By Kris Gonzo | Senior West Ham Columnist (Follow on X)
The absence of information and, indeed, action at West Ham has inevitably created a vacuum which is beginning to be filled by supporters’ concerns over how ready the club is for the start of the Championship season.
The Hammers face Portsmouth in the Carabao Cup on 8 August and, like many fans, I’m of the opinion that the squad is nowhere near ready.
With West Ham yet to make a signing this summer, the obvious question is: why is it taking so long?
It’s not only the lack of new arrivals that has fans speculating. David Sullivan remains the club’s largest shareholder, while Daniel Křetínský’s proposed purchase of Vanessa Gold’s shareholding appears to be no closer to completion.
Is the ownership situation slowing everything down?
It could be that David Sullivan’s reluctance to sell his shares at anything less than a Premier League valuation has played some part in delaying both the ownership restructure and player recruitment.
But that wouldn’t explain why Křetínský has yet to conclude a deal with the Gold estate.
Which leads me to wonder whether there is a money issue at West Ham. Not within the club itself, of course. We know Sullivan left West Ham carrying significant debt when he stepped down as chairman.
The question is whether Křetínský is reluctant to inject substantial funds into the club while Sullivan retains such a significant shareholding, or whether he is struggling to provide working capital above and beyond the money already generated through the sales of Mateus Fernandes and Crysencio Summerville.
I have to admit, it’s not something that had ever occurred to me before. After all, why would anyone imagine that somebody worth around £13 billion could have difficulty accessing funds?
Then again, much of Křetínský’s wealth is likely tied up in assets and shareholdings across his various companies. I suspect even billionaires don’t have £100 million stuffed down the sides of the sofa. Ironically, that’s roughly the amount he was expected to have injected into the club by now.
Supporters will inevitably fill the information vacuum
Of course, there remains a tsunami of reports insisting Křetínský will invest, West Ham will sign players and Vanessa Gold’s shares will eventually be transferred to the Czech billionaire.
I sincerely hope that’s exactly how it plays out.
But in the absence of any meaningful action, speculation about what on earth is happening at West Ham is only going to increase. The honeymoon period is over, and supporters are now expecting decisive action rather than reassuring words.
We have this same scenario every season & none of you commentators can understand why – so let me try to explain. The players we try to buy are better than the championship level. The problem is. these players all know they are better than where we are. So, having received our offer – and maybe even happy to accept – they will still hang on to see if their management team can get them a better gig. Which is why they wait till the end of the window. After all – if we wanted the club to fill the squad with a load of league 1 quality players, they could do it overnight.
I’ve worked out why it’s taking so long for Kretinsky to buy Gold’s shares, your only allowed to take out £500 a day from the local ATM Machine’s. All good things come to those that wait! COYI ⚒️⚒️⚒️
Gonzo, I think in this instance you are helping fuel the concern.
Given Kretinsky has said he will buy the Gold shares and will invest monies after that transaction, there is no reason to doubt him. He is a professional businessman, not a Sullivan!
However, the concern of why it is taking as long as it is to complete the Gold transaction after the Club statement indicating it will take about 2 weeks is worth the questions. Particularly is it anything to do with Sullivan slowing up the process. I’m not sure how he can, but if there is a clause in the Shareholder Agreement that gives a 25%+ shareholder the chance to challenge shareholder changes that would be a concern.
As for us not being ready for the new season, I don’t see how we were ever going to be. Exacerbated by the World Cup, relegation, our financial issues, the need for structural changes in the club at senior level,, a slow moving transfer market were always going to see us struggle to be ready for August. It is worrying but it was always going to be the case.
In reality, given all this work could only start in mid June after Kretinsky’s statement, much has already been achieved. Not enough but much nonetheless. Player recruitment was always going to be one of the last things to be completed. Recruitment of the recruiters had to be done first. Sale of Fernandes and Jimmy needed to be done (and potentially others but the excellent fees we got for this two has lessened the need for more transfers from a debt perspective).
I just think as fans we need to be realistic that the start of the season is likely to be difficult, transfers in will take time and as long as they are the right players, as long as we have them by the end of August it should be fine.
So yes, have concerns but let’s be realistic and keep calm!
Well written. Add in that there’s not been any real significant transfer business in the Championship and that more than half the division hasn’t got a pot to do the proverbial in we’re hardly being left behind.
Well said Martin61.
The voice of reason.
We have made zero signings???
Lets all dance and be happy that they are ripping off 50k season ticket holders?
You are part of the problem.
We posed little threat at Rangers is a real concern.
It’s not easy to be promoted from the championship, no period of getting it right. A team needs to be consistent from start to finish.
No news is good news
All quiet on the west ham front.
This is what we wanted after the previous era.
Hold on tight boys.
100% Dave. We should hear news when the medical is booked or ideally when they are pictured with a WH shirt on the official site.
Like a professionally run club.
Gonzo, why would you want to improve the club that much before buying it’s shares? If you did shares would be more expensive to buy, Sulivan knows this and is hoping to put off the the sale for 12 months and hope we return to the Premiership again raising the share price. For me it just shows Sulivan’s true colours, doesn’t care about the club just himself and money.