Sean Whetstone explains the Hammers new wealth
West Ham are able to offer captain Declan Rice a club record £83 million contract over eight years due to Daniel Kretinsky’s investment and their bumper season.
Rice has been offered an eye-watering £200,000 per week which equates to an £83m investment in the Hammers star player if he remains.
Last year Czech billionaire Kretinsky completed a £150m purchase of 27% of the club in a rights issue. This came on the back of a £30m rights issue from the existing shareholders.
That cash has allowed the club to clear shareholder debts owed to Sullivan, Gold and Tripp Smith and also external debt. The money was also used as a vital cash injection to the club after the pandemic to plug financial losses.
Earlier this week we revealed that the Hammers are poised to post revenue of £228m this season by our calculations which will be a club record of £35m.
This together with further loans from Daniel Kretinsky should allow David Moyes to invest up to £150m this summer in the summer window.
Is it wise? I remember we gave Winston Reid a 7 year contract once. Remind me, how long after that was it he got a career threatening injury?
I think there is a chance that they would insure against that kind of career ending injury. Insurance policies are available that kick in after 6 months to minimise the premium but also minimise our losses.
The 8 years deal, is not a realistic deal Rice would want to sign. We would have more chance of him signing a two year extension.
He has made it clear his ambitions are not money, he wants to win things. Signing a 8 year deal is extremely unlikely. He doesn’t want to be trapped in a Harry Kane situation.
No player with that much world class talent would commit to a 8 year deal.