The BBC are reporting that Shaun Wright-Phillips is likely to move from Chelsea to West Ham for a fee of around £10 million in the January transfer market.

Perhaps tellingly, Chelsea have admitted an approach has been made and far from dismissing the bid as a desultory offer, they appear willing to call and end to Wright-Phillips' time at Stamford Bridge:

"There has been interest from West Ham and they have officially approached
us," Chelsea chief executive Peter Kenyon said on Friday.
"We're not looking
to sell our players but if we get an offer we'll have to look at it on a serious
basis." BBC Sport

No word as to whether we will make a bid ourselves, but although there has been talk of money being available for Pearce in January, it remains to be seen whether this will stretch to the amount needed to try and prise Wright-Phillips back to the club.