Much has been made 0f the £190 million in transfer payments which West Ham still owe, for players bought but not yet paid for. It is potentially a huge millstone of debt, but as many have pointed out, should be partially at least balanced up by monies which the Irons are due back into their account for players they have themselves sold.
Therein lies a problem.
Despite Lucas Paqueta having been sold back to his former club Flamengo in Brazil in January 2026, a significant part of that money is still owed by the Brazilian side. The deal was worth £36 million, but, like most deals was structured over several years – so that the bulk of the cash is still outstanding.
Now, thanks to a huge about-face by the Brazilian Government effectively banning football clubs from receiving payments from betting and on line Casinos, the next payments by Flamengo to West Ham have been thrown into jeopardy.
As reported by torcedores.com, Club President Luiz Eduardo Baptista has publicly declared the looming financial disaster over a 400m Brazilian Reales (£58 million) shortfall in revenue:
“How am I going to pay for Paquetá?..
Rubro-Negro [Flamengo] still needs to pay millionaire instalments for the purchase of Lucas Paquetá…
“This Provisional Measure compromises future revenues, affects the football payroll and player signings…Instead of hiring players, we’ll have to hire lawyers.”
Worrying times ahead for the Hammers money men, who would surely have looked to use a portion of the many millions due in from Flamingo to pay down their own staggering debts.