Recent seasons

On their return to the top division, West Ham finished in 9th place,The highlight of the 2005–06 season, however, was reaching the FA Cup final, and taking favourites Liverpool to a penalty shootout, after a three-all draw. West Ham lost the shootout but still gained entry to the UEFA Cup as Liverpool had already qualified for the Champions League.

In August 2006, West Ham completed a major coup on the last day of the transfer window, after completing the signings of Carlos Tévez and Javier Mascherano.The club was eventually bought by an Icelandic consortium, led by Eggert Magnússon in November 2006.Manager Alan Pardew was sacked after poor form during the season and was replaced by former Charlton manager Alan Curbishley.

The signings of Mascherano and Tévez were investigated by the Premier League, who were concerned that details of the transfers had been omitted from official records. The club was found guilty and fined 5.5 million pounds in April 2007. However, West Ham avoided a points deduction which ultimately became critical in their avoidance of relegation at the end of the 2006–07 season. Following on from this event, Wigan Athletic chairman Dave Whelan, supported by other sides facing possible relegation, including Fulham and Sheffield United, threatened legal action.

West Ham escaped relegation by winning seven of their last nine games, including a 1–0 win over Arsenal, and on the last day of the season defeated newly crowned League Champions Manchester United 1–0 with a goal by Tévez to finish 15th.

In the 2007–08 season, West Ham had a reasonably consistent place in the top half of the league table despite a slew of injuries; new signings Craig Bellamy and Kieron Dyer missed most of the campaign. The last game of the season, at the Boleyn Ground, saw West Ham draw 2–2 against Aston Villa; ensuring 10th place, finishing three points ahead of rivals Tottenham Hotspur. It was a five-place improvement on the previous season, and most importantly West Ham were never under any realistic threat of relegation.

After a row with the board over the sale of defenders Anton Ferdinand and George McCartney to Sunderland, manager Alan Curbishley resigned on 3 September 2008. His successor was former Chelsea striker Gianfranco Zola. Zola took over on 11 September 2008 and in so doing became the club's first non-British manager.In the 2008–09 season West Ham finished 9th, a single place improvement.

In the 2009–10 season, West Ham started strongly with a 2–0 win over newly promoted Wolves with goals from Mark Noble and newly appointed captain Matthew Upson. A League Cup match against old rivals Millwall brought about violent riots outside the ground as well as pitch invasions and crowd trouble inside Upton Park.

In August 2009 the financial concerns of Icelandic owners parent companies left the current owners unable to provide any funds until a new owner was found. The club's shirt sponsor SBOBET provided the club with help purchase a much needed striker, Alessandro Diamanti.

West Ham had a poor season which involved a prolonged battle against relegation. They finally secured their survival with two games remaining by defeating Wigan Athletic 3–2. They club managed to take 35 points out of 38 games, 7 fewer than the total they had when relegated 7 years prior.

On 11 May 2010, two days after the end of the 2009–10 season, West Ham announced the termination of Zola's contract with immediate effect.

On 3 June 2010, Avram Grant signed a four year deal to become the next manager of West Ham subject to a work permit.West Ham's form has continued to be poor with the team seldom outside the relegation zone,placing Grant's future as manager under serious doubt.A 4–0 Football League Cup quarter-final win over Manchester United was an otherwise bright point in a disappointing season.