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Hammers deny “insolvency” warning

Agnelli

Juventus chief Andrea Agnelli – the apparent ‘brains’ behind the European Super League – has made the astonishing claim that West Ham are in danger of insolvency.

It’s an astonishing declaration by the man who offers no explanation other than covid which of course has hit every club worldwide.

But quite why he has selected the Hammers as one of the club who may go out of business is left entirely unclear.

He adds that  Juve, Barcelona, Inter and Porto, are at a 15-20 percent risk of going out of business because of a need for liquidity within the system to be €8.5 billion.

Among his remarks he said: ” The board has estimated the effects of the pandemic over the three year period at £320 million based on the guidelines for the capital increase have been defined.

“They estimate the need for liquidity within the system to be £8.5 million. It is estimated that 30 to 40 pc will be managed by capital increases, 15 to 20 per cent at the risk of insolvency. I am thinking of Barcelona, Inter, West Ham, Porto.”

Clear as mud!

It’s an amazingly unhelpful comment and drew an immediate denial from a well informed Hammers insider who made it clear the club was “in safe hands.”

Commenting he declared: “COVID has hurt the club very badly but it’s in very safe hands it’s very odd that we were picked out.”

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About Hugh5outhon1895

Hugh Southon is a lifelong Iron and the founding editor of ClaretandHugh. He is a national newspaper journalist of many years experience and was Bobby Moore's 'ghost' writer during the great man's lifetime. He describes ClaretandHugh as "the Hammers daily newspaper!" Follow on Twitter @hughsouthon

7 comments on “Hammers deny “insolvency” warning

  1. This geezer is a bit of an arse-hat.

    Wear it with pride 😀

  2. Crying wolf? Do they really need the European break away League?
    Nice to be mentioned in the same post as Barcelona, Juve, Porto and Inter tho.

  3. Ok lets try again.

    The gentleman in question has dubious grounds for wanting to form a breakaway league within a league, so trust anything that leaves his undeniably large speech orifice that is quite frankly not worth a couple of Rhubarb and Custards from Mr Simms down the quadrant is beyond me.

    Do me a lemon (sherbert)

  4. There are a myriad of reasons for his comments. It could be to unsettle the National Team through Declan Rice. It could be that he’s picked on West Ham as we are the up and coming new boys to European football (UEFA have/are using the success of West Ham to show what can be achieved for any club) and that he’s using us as a pop at the “Powers That Be” in European football. It could be that unbeknown to us there may be a personal issue between him and GSB. We don’t know. What we do know is that GSB stead to lose their own livelihoods and lifestyles if West Ham were to go to the wall. I need say no more!

  5. This is what you can expect when the board doesn’t make payments at the agreed times (Haller).

  6. I think he meant Spurs given that they were actually in the ESL and that their debts are very high due to the stadium.

  7. A newspaper comment from one of the instigators of the ill fated European super league!! Who branded Tottenham as a “big six” club. Really???
    As me dad used to say, Pull the other one boy, it’s got bells on!!

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