Hammers are not skint

Recycled rumours that West Ham are skint or are on the verge of insolvency CONTINUE AND REMAIN  completely without substance!

Last month Juventus chief Andrea Agnelli used West Ham as an example of a club on the brink of financial meltdown as he tried to defend controversial European Super League plans.

This was denied at the time by a senior club insider who told Claret and Hugh “COVID has hurt the club very badly but it’s in very safe hands it’s very odd that we were picked out.”

That story has been recycled again this week with inpatient fans suggesting lack of funds is the reason for lack of transfer activity this summer.

Like all football clubs, West Ham has had its challenges with cash flow over the pandemic requiring a rights issue of £30m from the shareholders, short term loans from Barclays bank and selling off the Haller payments due from Ajax.

However , the Hammers have  immediate access to a £120m credit facility from MSD Holdings owned by Michael Dell’s family which stretches over five years and while some of it has been used to pay off media the Rights and Funding credit facility and Barclays bank loans, the majority remains available to the club.

Transfer deals require around 20% to 25% upfront depending on whether the player signs on a four or five-year contract.

Money is available to the manager to invest and improve the squad with quality players he decides will make the difference.