West Ham are ready to pay Manuel Pellegrini around £10 million a year if he agrees to become their manager.

The Chilean was set for talks with co-owner David Sullivan today and West Ham are confident they will be able to confirm his appointment, on a three-year contract, within the next 48 hours.

The size of the salary West Ham are prepared to pay underlines their determination to land their man, following criticism last week, when they decided not to give David Moyes a new contract after he had kept them up.

Pellegrini, 64, would immediately become one of the highest earners among Premier League bosses, with only Pep Guardiola, of Manchester City, and Manchester United manager Jose Mourinho paid substantially more.

Former Villarreal, Real Madrid, Malaga and Manchester City manager Pellegrini had been earning around £12m a year in charge of Hebei Fortune but was keen on returning to Europe and parted company with the Chinese Super League club last week.

Pellegrini, it is understood, will have full control over transfers, with Sullivan, who had been handling deals but who came under pressure last season from fans criticising the club’s recruitment process, taking a step back.

One of Pellegrini’s first decisions, should the deal go through, will be to identify a new head of recruitment, with Eduardo Macia, currently employed by Leicester City to sign new talent, one man linked with the job.

Pellegrini, who left Manchester City in 2016 with the fifth-highest win percentage in Premier League history, was always high on West Ham’s list of potential managers, along with Newcastle’s Rafa Benitez.

Manager Club Reported salary Pep Guardiola Manchester City £20m Jose Mourinho Manchester United £15m Manuel Pellegrini West Ham £10m Antonio Conte Chelsea £9.6m Arsene Wenger Arsenal £8.5m Jurgen Klopp Liverpool £7m Sam Allardyce Everton £6m Mauricio Pochettino Tottenham £5.5m Rafa Benitez Newcastle £4m Sean Dyche Burnley £3.6m Roy Hodgson Crystal Palace £2.5m David Moyes West Ham £2.2m

Shakhtar Donetsk head coach Paulo Fonseca was interviewed by Sullivan last week but was then offered a new contract with the Ukrainian club, which he signed.

West Ham were always keen on Benitez, whom they almost appointed in 2015 following the departure of Sam Allardyce, before the Spaniard went to Real Madrid.

However, they focused their attention to Pellegrini last week, when there was little sign of any imminent conclusion to talks between Benitez and Newcastle over the future direction of the club.

Pellegrini’s probable appointment could also lead to Manchester City’s midfielder Yaya Toure following his former manager to East London.

Toure, 35, is a free agent after being released by City last week.

Pellegrini could also be instrumental in West Ham striker, Javier Hernandez, staying at the club.

Hernandez enjoyed limited game time under Moyes and looks certain to leave this summer but Pellegrini, who is known to favour a more expansive style, could want the striker to stay.

Another early decision the new boss must make is whether to offer defender James Collins a new deal. Fans were angry at reports Collins was informed of his release by e-mail but the club say he was told verbally earlier.