West Ham United have been fined a record £5.5 million by a Premier League panel on charges of breaching ownership rules by their signings of Argentines Carlos Tevez and Javier Mascherano last August.

But the club is confident they have reached an agreement which will allow Tevez to play in tomorrow's Premiership clash with relegation rivals Wigan.

An independent commission ruled today that, for Tevez to be available, West Ham must either cancel the third party agreement which exists in his contract or amend it to the satisfaction of the Premier League.

West Ham have until noon tomorrow to prove they have done so to the Premier League if Tevez is to be given official clearance to play at the JJB Stadium.

It is understood the Premier League have not yet received official confirmation from West Ham that they have reached a suitable agreement with Kia Joorabchian, the third party involved in the contracts.

But it is understood West Ham have clarified their position with Joorabchian and that Tevez will be available to play against Wigan.

West Ham's survival hopes remain alive because they escaped a points deduction after pleading guilty to two charges relating to the signings last August of Tevez and Javier Mascherano, who is now at Liverpool.

But they were hit with a record fine and ordered to amend Tevez's contract under threat that the Premier League could cancel his registration.

West Ham pleaded guilty of breaking the rule which forbids the ownership of players by a third party and of failing to provide correct documentation.

The fact West Ham are embroiled in a fierce relegation battle was a significant factor in the three-man panel deciding against imposing a points deduction.

But former West Ham chief executive Paul Aldridge was found to have lied directly to Premier League chief executive Richard Scudamore over the existence of documentation which should have been submitted.

The panel ruled: "We are of the view that these are exceedingly serious allegations because they amount to not only an obvious and deliberate breach of the rules but a grave breach of trust as to the FAPL (Premier League) and its constituent members because in our finding the club has been responsible for dishonesty and deceit.

"These breaches.... could have merited a points deduction and thus the financial penalty must reflect that."

West Ham issued a brief statement indicating they would take advice before commenting on any possible appeal.

The statement read: "The club will reflect on the financial penalty that has been imposed and will take advice before commenting on the possibility of an appeal or any further steps that might be taken."