David Sullivan says West Ham United had agreed a deal with Liverpool for Andy Carroll, but the striker turned down the chance to be the focal point of Sam Allardyce's side.
Carroll's future at Liverpool has been uncertain following the appointment of Brendan Rodgers as manager and he has been linked with several rival Premier League clubs.
West Ham were among those to show an interest and a season-long loan deal with a view to a permanent £17million transfer had been lined up by the promoted club.
Sullivan says the proposed deal was 'terribly expensive' for the Hammers, but he was prepared to back Allardyce, who wanted Wolves winger Matt Jarvis to supply the crosses for Carroll.
"I can only talk about this because it has been put in the public domain already," co-owner Sullivan told the Daily Mirror. "My manager wanted Andy Carroll, so we backed him.
"Andy was the perfect player for him and the style of football we play.
"We play a lot ...