Sources close to West Ham have revealed to ClaretandHugh that the players annual wage bill has reached £57m this summer leaving just £1m in wages before this season’s Premier League Financial Fair Play limit is reached. West Ham are unlikely to have increased retail or commercial income last season after a bumper season before so £58m is likely to be the upper limit this season to comply within the rules.
The release of Joe Cole, Jack Collison, Alou Diarra and George McCartney released around £7m off the wage bill while the end of loans for Roger Johnson, Pablo Armero, Antonio Nocerino and Marco Borriello is thought to have released the equivalent of another £3m off the wage bill.
The seven new Hammers signings have added a combined weekly wage including employers national insurance of around £244,000 adding over £12.4m to wage bill.
Although the Financial Fair Play limit was £54m last season West Ham actually had more than £61m available after Commercial revenue rose from £7.9m to £13.9m and retail sales were up from £4.8m to £6m in our first season back in the Premier League. Under Premier League FFP rules this extra commercial revenue gave the club another £7.2m to spend last season if they wanted to.
The remaining £1m this season could be used as £19k per week or £38k per week as part of a six month loan, any outbound players sold would also release further wages from the wage limit.
Maybe someone can explain to me why were after another striker when we only ever play one upfront ?? were are in dyer need of a centre halfe.. Surly we need back up in this position as Reid is yet to sign and ginge Is becoming a bit of a nightmare??