News round-up:  Wolves have rejected a takeover bid from a consortium headed by Graeme Souness.

The £20million offer is "significantly below proposals already put forward by other parties", and the Championship club have appointed a leading City investment bank to advise on the other offers.

Rothschild advised on the recent takeovers of Manchester United and Aston Villa and provided expert financial advice to Arsenal, Liverpool and the Premier League.

The club's owner, Sir Jack Hayward, has offered to hand over controlling interest at Molineux in exchange for significant investment in Wolves.

He initially asked for £40million to be pumped into the club, but halved that in November

• Alan Curbishley has completed the signing of Calum Davenport from Tottenham to bolster his defence as West Ham continue their bid for Premiership survival.

The 24-year-old was at White Hart Lane for just over two years but has struggled to hold down a regular place, despite a recent run in the team following Ledley King's bruised foot.

• Manchester United striker Giuseppe Rossi has joined Parma on loan for the rest of the season. Rossi had a spell on loan at Newcastle earlier this season.