Leyton Orient's prospective buyer is set to put a new offer forward despite the debt being greater than the club value, the East London Guardian Series understands.

The unnamed American publicly funded company initially put in a bid at the beginning of the month but were met with 'radio silence'.

It is believed the deal was to give owner Francesco Becchetti the value, the £4million he paid in 2014 to Barry Hearn, minus the debt.

However, it has now been confirmed the money the club owes is significantly higher than the value, which has been confirmed by another party.

The figure is believed to be around £5million and it is also thought other parties are interested in the O's. 

But a spokesperson, who cannot be named,  admitted the company are willing to take on the debt but Becchetti has to walk away and give them the club.  

Orient currently sit 24th in the Football League and face relegation into the National League for the first time in 112 years. 

They were given a stay of execution at High Court on March 20 after they received a petition from HMRC over an unpaid tax bill.

Becchetti paid the initial bill but other creditors have since taken over.