West Ham can be the one of the major forces in Europe over the next five years, according to co-owners David Sullivan and David Gold.

The Hammers have impressed this season and Sam Allardyce has renewed optimism around east London, while they are also preparing to move to the Olympic Stadium.

Sullivan and Gold have now been in charge for five years and despite having to repay debts after relegation in 2011-12, believe they can win the Premier League and the Champions League in the future.

West Ham can win the Premier League in the next five years, according to the club's co-owners

David Sullivan (left) and David Gold (right) believe the Olympic Stadium can boost the side on the pitch

West Ham have yet to triumph in England's top division, but speaking in a Q&A with the Evening Standard, Sullivan cites Atletico Madrid's achievements in recent years as a reason for fans to be optimistic.

Asked about how he saw the next five years for West Ham, Sullivan replied: 'I’d like to see us win the Premier League and then the Champions League. Yes, I know it’s unlikely but again, not impossible — look at Atletico Madrid. We can all dream.

'We are West Ham United, we’re a big club, one of four big clubs in London. We have some catching-up to do but we’ve closed the gap.'

And Gold added: 'I would be disappointed if we don’t join the so-called top six within the next five years. We know the fanbase is there and it will grow when we move [to the Olympic Stadium].

'This isn’t blind optimism. I can see everything coming together, culminating in us becoming a top club, challenging at the highest level with top players in an amazing stadium supported by amazing fans.'

Sam Allardyce celebrates as his side score during the 3-0 victory against Hull City at Upton Park on Sunday

Sullivan and Gold believe Atletico Madrid's feats in La Liga and the Champions League should be inspiration

Premier League glory is way out of sight at present, however. But supporters have plenty to be proud of with the likes of Stewart Downing, Andy Carroll and Alex Song impressing with West Ham continuing to challenge the so-called 'bigger' clubs.

They currently lie seventh in the table, just four points behind Manchester United in fourth, and Sullivan reveals that a place alongside Europe's elite should be the goal this season.

'Our target? To finish in a Champions League spot. That’s not to say we will but why not aim high? The other target is to win the FA Cup which is becoming harder every year.'

The duo describe their time in charge of the Hammers as a 'roller-coaster ride', one they believe looks set to continue into an exciting future.