CandHExclusive: DS on Brexit Irons impact

West Ham charman David Sullivan – like all other Premier League chairman – was this morning assessing the effets on how Britain’s decision to lave the European Union would affect the club’s finances and future.

The markets have been rocked with the result of the referendim which also led to the near immediate resignation announcement by Prime Miister David Cameron.

And speaking exclusively to ClaretandHugh the club’s chief shareholder gave an early opinion on what the future may hold.

He explained:  “If  sterling falls too much it impacts on our buying power and ability to pay wages as players want it fixed in euros.”

And he added: ” Even now we get hurt as we owe quite a bit in euros on players we have bought bought on the ‘drip’, every club with EEC players will be in the same boat.”

There is the additional worry now hanging over players the club may wish to buy with Sullivan saying: “Long term European players will need work permits-French players will be the same as Africans.”

The Hammers and other PL clubs will be carefully watching the markets given that at one stage today (Fri) the value of sterling crashed to its lowest level since 1985 and saw the UK slip from the world’s fifth larget economy.