Allardyce, the man who has taken over from Avram Grant following relegation to the Championship, spoke to the media and revealed that he took the job because of the club's stability after being dismissed from his two previous posts as a result of changes in ownership.
"I'm bemused by the statement but my information, having spoken to David Sullivan, was that he was not wanting to sell West Ham because it's his club," he told reporters.
"That was one of the reasons why I took the job because I didn't want any fractions in terms of change of ownerships because my reputation has already suffered, wrongly so, by new ownerships at Newcastle and Blackburn disposing of my services when there was no real credibility."
The former Bolton boss revealed that he will have his side playing in keeping with the team's history of attractive football.
The 56-year-old said: "That history that West Ham have, I am very well aware of, and we will play the West Ham way with the players we have got to achieve the ultimate, and that's winning football matches.
"It will be a tale of home and away. At Upton Park we'll attempt to play the kind of passing game the fans want. We will aim to continue the same on our travels but we'll also be hard to beat.
"I wouldn't have taken this job if I didn't think we could bounce straight back into the Premier League. It's a very exciting prospect and one I'm looking very much forward to."