By Sean Whetstone
Outbound Sales:
– Kehrer to Monaco: £9.3 million
– Trott to Copenhagen: £1.3 million
– Benrahma to Lyon: £12.2 million
– Downes to Southampton: £15 million plus £3 million in add-ons
-Zouma Free transfer to Shabab Al-Ahli
Total: £37.8 million in transfer fees without add-ons or £40.8 million with add-ons
Inbound:
– Luis Guilherme: £19.5 million
– Max Kilman: £40 million
– Wes Foderingham: Free
– Crysencio Summerville: £26 million (estimated max) plus £8 million in add-ons
– Niclas Füllkrug: £22 million plus £3.5 million in add-ons
– Guido Rodriguez: Free
– Jean-Clair Todibo £4.2m with (£30m) obligation to buy next season.
Total: £111.7 million without add-ons or £153.2 million with add-ons
Net Spend: £73.9 million without add-ons or £112.4 million with add-ons.
Inbound after *Aaron Wan-Bissaka*
– Luis Guilherme: £19.5 million
– Max Kilman: £40 million
– Wes Foderingham: Free
– Crysencio Summerville: £26 million (estimated max) plus £8 million in add-ons
– Niclas Füllkrug: £22 million plus £3.5 million in add-ons
– Guido Rodriguez: Free
– Jean-Clair Todibo £4.2m with £30m obligation to buy next season.
– Aaron Wan-Bissaka £15m with £3m of add-ons
Total: £126.7 million without add-ons or £171.2 million with add-ons
Net Spend: £89.9 million without add-ons or £115.5 million with add-ons.
Potential further sales (estimates from transfermarkt.co.uk 😉
Nayef Aguerd £30m
Danny Ings £6.85m
Maxwell Cornet £7.7m
Tomas Soucek £25.7m
Total £70.25m
From memory, most estimates of our budget ranged between £85-£115m based on FFP (sorry, can’t get used to the new acronym)
So if correct, we either need to find £30m to balance the books or sell to enable a further purchase. This without understanding the impact of agent fees, nor the benefit of any high salaried players being replaced by lower salaries.
I can’t believe our Board nor Tim will get the FFP bit wrong, and if we draw a line under our incomings then it is still an amazing window.
Don’t forget we spent a big fat zero in the winter window plus the Declan rice money is coming in from Arsenal spread over three years or so.
It was over two years (that a big sticking point, as I recall), but your point is very valid. We’ve 50m coming in this summer from Arsenal to help offset everything. Still, at least get rid of Cornet and Ings to help balance it out more. We don’t have random hotels we can sell like Chelsea.
What about the money for Fornals?
Not the worst math on the subject but a couple of points. Having ALL of the add ons be activated is unlikely (whether individually or as a group) and if they were it would suggest both a very successful future for the players and the club – that is not a worst situation having to pay all that money but a sign of things having gone well. Add ons are one thing, sell on clauses are often more meaningful. Impossible to measure at this point but worth at least a notation. No mention of Agents fees either. From a financial point of view it is the net that matters (actually the net plus or minus any change in overall wages) so a mid point (50% of the adds on being triggered) takes you to around 100 million. No spending in the last window, financially some of the benefit of the Rice money remaining and the amount does not seem that unlikely.
However one niggle without any proof. The ability of Steidten to convince so many players to come to West Ham without any European football this year. Is he that convincing, is the power in the story of the Project? Hopefully we’ve not invented some financial magic (e.g. some player tax loophole) that will come back and haunt us. No proof of course, but this is West Ham, and generally anything that seems too good is. World Class Argentinians turning up on Green Street one afternoon should always be a reminder.
I’m sure that figure will be much touted, but I think it’s far to simplistic to be meaningful.
The expenditure seems a calculated risk to me because, for the first time in many years, we have a number of players who could be sold at significant profit…if we needed to do that for FFP compliance.
Lovely click bait grabbing headline 👏
If we sell everyone on your list for the money you say, our net spend could be approx £20m.
Not such of an attention grab though is it? 🤷♂️⚒😉
Nothing was spent in the last window either
.we actually made money on rice and scamacca…made about 30 mil if I remember correctly…due to not replacing scamacca
When you quote the figure of £171.2m with addons you are counting the £30m obligation to buy for Todibo and they would not have to pay that until next season, so you can’t count that spend until next PSR year. As the Martin61 said, I can’t believe Tim and the board would get that wrong, Sullivan especially is too astute on finance to be caught out on that one.
For PSR transfer fees are divided over the length of the contract. E.G Fullkrug’s 22M is divided over 4 years so 6.5M a year
Wages are the unseen factor here and it seems to me we’re not offering what we were just a couple of years ago. App Bruno was offered about 50 or 60 grand a week. Well below Ings’ 125 grand a week, which is 6.5 mil a year.
As others have said, all of this will be worked out by our accountants so nothing to worry about
As Devon Iron says PSR is not about all about cash. It’s about profit. Rice was pure c. £100m profit as he came from the academy. Aguerd (5yr contract) amortises at £6m a year when bought at £30m. In the accounts 2 years later he’s therefore worth £18m so that’s what a break even price is to sell. Anything above is profit for PSR purposes anything less is a loss in the accounts. It’s these figures that matter for PSR – not the cash price. This is why Chelsea are so desperate to offload Gallagher as he’s an academy player and a sale at £30m is pure profit as he came from the academy and helps their PSR calculations
Zouma hasn’t gone yet. He’s back in England after his medical.
Regarding Rice money, I understood we were gong to get the money over 18 months. That was not the norm but WHU insisited as they wanted to reinvest straight away.
So we would have received a third of the fee straight away and we know that we cashed in the 2nd payment by selling the debt to Barclays at a cost of £900,000. This means only approx. £33m is left. I dont know the date when we receive this.
Using Transfermarkt numbers in Euro’s, Moyes spending since Dec 2019 is as follows (Gross/Net)
19/20 (Jan window only) 30m / 30m
20/21 55m / 9m
21/22 74m / 4m
22/23 197m / 175m
23/24* 145m / -26m (Rice fee approx Euro 117m)
Total 501m / 192m
Pellegrini who was only here for 18 Months spent Euro 191m (net Euro 121m). You can see the impact on those purchases had on the next 2.5 years.