West Ham have often opted for a 4-6-0 formation this season with summer signing Andy Carrol out injured and Caicedo's name has been mentioned as a reinforcement in the January transfer window.

And reports in Russia suggest that the player is open to the idea of a move, either on loan until the end of the season or on a permanent deal.

According to Izvestia, Caicedo has fallen out of favour at Lokomotiv following the arrival of new coach Leonid Kuchuk and is already looking for his next destination with the Hammers and Serie A side Lazio both interested.

The player's agent, Jose Chamorro, claims his player is now ready for a new challenge after making a £6m move to Moscow from Levante in 2011.

He said: "Caicedo's game has long earned the attention of many European clubs.

"Naming any specific team does not make sense, but I don't mind saying that there are clubs from Europe's leading championships interested.

"However, I should note that Felipe respects his current contract with Lokomotiv and he will leave only in the event that the club are satisfied with the proposed terms.

Caicedo, who was linked with a £7m-move to Bolton in the summer, has a contract at Lokomotiv that expires in June 2015.