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West Ham players defer wages while owners inject cash and defer interest

West Ham have tonight confirmed a series of measures – led by the Board, first-team players and the manager – to ensure the Club can continue to support our staff, fans and local community through this difficult time.

The suspension of all football has presented the entire nation with a challenge the vast majority of us have never experienced in our lifetime. It continues to impact all of our lives, both personally and professionally.

The statement says  “Like many organisations across the globe, the Club has been looking at every option possible to achieve continuity and to ensure that we can protect and safeguard all of our staff and the future viability of our football club.

The Board of Directors have been working tirelessly behind the scenes exploring every possible avenue, with our main priority in these unchartered times being to keep those around us and their families safe. We can confirm that a number of measures, including the following, are now in place:

• The first team playing squad, led by captain Mark Noble, are supporting the effort by deferring a percentage of their salaries during this period of postponement

• Joint-Chairmen David Sullivan and David Gold and fellow shareholders have agreed to inject £30 million cash to help ensure stability

• The Joint-Chairmen, who have not taken a salary or dividend throughout their 10 years at the Club, are deferring interest payments on shareholder loans

• Manager David Moyes, Vice-Chairman Karren Brady and Finance Director Andy Mollett taking a 30% reduction

The savings created by the measures above will support the entire infrastructure of the Club and enable us to retain jobs and continue to pay 100% of staff salaries. It will also help us to continue to support the most vulnerable in our community. Through our award-winning Foundation, and the Players’ Project we have delivered, West Ham United has pledged £28m and saved the NHS £1.4m in the 150-Club diabetes programme alone – and these vital life-saving programmes need to continue.

Vice-Chairman Karren Brady said: “I would like to say a big thank you to David Moyes and his backroom team, our captain Mark Noble and our fantastic squad of players for the commitment and determination they have shown to offer their help and support.

‘’I would also like to thank the shareholders whose support through this injection of equity once again demonstrates their commitment to the future of the Club.

“The Joint-Chairmen and I are truly proud of how they and everyone at the Club has stepped up to play their part in this situation – we are in it together to support one another, our community and our Club. That is the spirit of the West Ham United family.

“There is still a long and difficult road ahead but we remain committed to doing everything we can to support those most in need, and together we will come through it stronger.”

Captain Mark Noble said: “As players we have been in constant dialogue with the Club since the situation around COVID-19 emerged and I am proud that our entire squad have made clear their strong desire to play our part in helping to support others through this situation. 

“At West Ham United, we are one team and our priority reflects the Club’s aim to help ensure the staff get 100% of their salaries while we are unable to play our matches. We continue to do all we can, collectively and individually, throughout this period for the benefit of those around us, our colleagues, our supporters and our community. 

“On behalf of the players I send our best wishes to all of our supporters and their families, especially those who have been directly affected by the virus, and I look forward to the day that we can all be back together again.” 

The thoughts of everyone at West Ham United at this time are with all those affected by COVID-19, particularly the more vulnerable members of our community. Please continue to look out for yourselves and for each other.

Stay Home. Protect the NHS. Save Lives.

Claret and Hugh say:

The club statement we have all been waiting for.  The current shareholders have agreed to inject £30m cash in the form of a rights issue and defer interest for shareholder loans. West Ham Vice Chairman Karren Brady and Chief Finance Officer Andy Mollet have agreed to take a 30% pay cut and the first team players take a deferment of their wages for three months to help with cash flow. We welcome this announcement where everybody shares the pain to keep the lower paid non-playing staff in a job and receiving 100% of their salaries at West Ham. Well done shareholders, well done directors and well done Mark Noble and the first team squad.  Unity at last on this important issue and it’s great to see the Hammers keeping up the spirit of which we are all a part.

Come On You Irons!

 

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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

5 comments on “West Ham players defer wages while owners inject cash and defer interest

  1. ignorance is bliss

  2. I said earlier in the week, players can support or kill clubs.
    West Ham have shown the way as a club.
    The owners have stepped up, you can’t knock them for this it is a lot of money when their other business interests are under pressure.
    Would of loved a share offering to supporters, think it would have been massive, maybe down the line…
    The players are playing their part.
    I think this will bring the club together when we come out the other side if this.
    Time for Levy to step up and stop taking money off the people who need it and give his bonus back and pay his staff. Tottenham players speak up.
    Football, the way has been shown by West Ham & Southampton.
    Well done all concerned with West Ham!
    I said Earlier in the week, supporters have long memories, we can have pride in our club for trying to support its staff, players, supporters and the local charities that need help in tough times.
    COYI !

  3. Proud of the club and the West Ham family spirit. We’ll done the board who have injected money and not taken dividends for years – they are supporters too. We’ll done KB and all of the senior players for declining or deferring part-salary to ensure employees get paid. This is still a proper club.

  4. Well done to the Board and players. My faith restored!!

  5. Deferred?

    So given up nothing.

    They are pulling the wool over your eyes.

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