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Hammers need certainty

The announcement that owners will inject £30m into the club, defer interest on loans, senior executives and the manager will take a 30% pay cut while players defer part of their wages has been welcomed by everyone connected to West Ham but it has been called a drop in the ocean for the Hammers long term financial planning according to one senior club insider.

West Ham needs certainly to properly financially plan for the future.

They need to know whether the season will be completed and by when, they need to know whether games will be played behind closed doors or not and most importantly they need to know which league they will be playing in next season.

The Hammers were already predicting losses of £40m this season after the failed Pellegrrrini project and the current crisis could more than double those loses.

In an unthinkable doomsday scenario, West Ham could end up getting relegated to the Championship too causing tens of millions more losses.

For now, the Hammers are focused on paying next month’s payroll for April which will probably top out around £8m after the reductions and deferments are factored in.

 

 

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About Sean Whetstone

I am Season Ticket Holder in West stand lower at the London Stadium and before that, I used to stand in the Sir Trevor Brooking Lower Row R seat 159 in the Boleyn Ground and in the Eighties I stood on the terraces of the old South Bank. I am a presenter on the West Ham Podcast called MooreThanJustaPodcast.co.uk. A Blogger on WestHamTillIdie.com a member of the West Ham Supporters Advisory Board (SAB), Founder of a Youtube channel called Mr West Ham Football at http://www.youtube.com/MrWestHamFootball, I am also the associate editor here at Claret and Hugh. Life Long singer of bubbles! Come on you Irons! Follow me at @Westhamfootball on twitter