The 26-year-old striker reportedly has a release clause of €28 million (£25.19m).
Iglesias had a good season on a personal level for Espanyol during the 2018-19 campaign.
According to WhoScored, the 26-year-old striker made 35 starts and two substitute appearances in La Liga for Espanyol last season, scoring 17 goals and providing three assists in the process.
Friendship with Roberto Jimenez
Interestingly, Iglesias is good friends with Roberto Jimenez, who joined West Ham earlier this summer on a free transfer after leaving Espanyol.
West Ham will be aiming to challenge for the Premier League top six next season.
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