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Players defer wages to ease cash flow problems

West Ham senior players led by skipper Mark Noble have come to an agreement with the board to defer a portion of their wages for three months to help the club’s cash flow position. The Hammers are only the second club to agree on a deferment after Southampton players reportedly agreed to defer 10% of their wages in April, May and June.

The exact percentage of the pay deferment of the Hammers wages remains confidential under the terms of the agreement although Claret and Hugh understand it is somewhere between 20% and 30% of their gross pay each month.

With a monthly payroll of £10.4m West Ham could save as much as £3.1m per month or £9.3m over three months.

The deferment of pay is just that and all players will have that percentage paid back to them in full in the future so the agreement is akin to loan from the players to the club.

The deferral is on top of a £30m cash injection from the shareholders, a deferral of interest on shareholder loans and a pay cut from the highest-paid executives on the board.

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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

4 comments on “Players defer wages to ease cash flow problems

  1. This was always going to be the case, lead by Nobes we have good characters at West Ham United, my hope is that doesn’t die out across the club in the near future, which I fear will be the case. Articles that you run with on the site at times are so Ill informed and clear for all to see that it is your sites relationship with certain people , that drives them. When you stick to stories and general fan discussions, the site is enjoyable, but your comments and stories regarding the wage reductions/referrals, young players contracts, agents involvements and fees etc are poor to pathetic! If you would like to discuss further feel free to email.

    • No need to email. We are what we are and if you believe it is a good idea not to help the club and that our only view is to support the board, so be it. But the fact that the board are taking a £30m hit to keep the club stable may help you understand why we take the view. If you are anti board or neutral please don’t expect any criticism from us. Our views were based on what players should do at every club but you are free to take whatever view of us you wish. Frankly your position on our views on player pay deferrals has proved pathetic by the approach taken by the players themselves and I assume you believe agents are good for the game. Happy Easter Nor do I hand out my email address to unknown people, notably’ those who clearly aren’t too keen on me 🙂

  2. Deferred? 20%?

    So they’ve sacrificed absolutely nothing. They’re paid fortunes and they’ve given up absolutely diddly squat.

    I don’t hate much, but I think I hate footballers.

  3. Just footballers? How about golfers,tennis players,racing drivers,boxers, actors, singers, musicians,politicians,business owners,lawyers and the myriad of people earning obscene amounts throughout society? What our players have done is to give the club a bit of leeway, enabling them to continue paying non playing staff rather than putting a further burden on the tax payer. You may also have read yesterday that they are donating to the Players Together fund which goes directly to NHS charities. I know it’s taken a while but I think this is a good, positive move by the players.

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