The free signing of Joel Veltman and the £5 million plus add-ons for Manor Solomon show that West Ham are mindful of sticking within a budget this summer, despite the mammoth £150 million-plus incomings from three player sales.
Supporters might be forgiven for thinking that the bulk of that would be re-invested in the squad, but that is very far from the harsh financial reality created by West Ham’s “legacy”debt from the Sullivan – Brady era, running at some £190m in transfer fees outstanding and a loss last season of £105 million.
Despite Daniel Kretinsky’s assurance that no player had to be sold for financial reasons, it is evident that there’s been some behind the scenes settling of debt, from the public information at companies house this weekend.
One claim goes further, suggesting that their own source at West Ham has revealed the total budget available to Nuno and Koppen the summer:
“Board set transfer budget at around £40 million;
The club source puts the transfer budget handed to Nils Koppen and his recruitment team at under £40 million for the summer, which is a below-modest figure for the Premier League, but fans hoped it would be more set against the scale of West Ham’s outgoings”
(greenstreethammers.com)
What isn’t clear is whether the Freddie Potts sale adds more cash to the kitty: Another £10 million would allow the Hammers to complete their two top signing targets – Parrott and Disasi – but would leave zero funds for a midfield upgrade.
West Ham might have to choose between midfield or defender acquisitions – Arne Engels move appears to have gone cold
£40 million-plus extra from Freddie Potts’ sale is more than we perhaps expected on the day of relegation, when a fire sale was predicted: Nuno will just have to choose which areas are the priority.
And its better than no budget at all.
No doubt we will take the £40m for Diouf so we can invest in a striker, a winger and a centre midfielder. Problem is Scarles isn’t good enough and neither is Kilman. We need another centre back and a left back.
If only Kretinsky had invested the £90m promised when he promised to. He could have batted away Staveley, sorted the Gold family shares quietly and delivered on his word to retain our best players. Looks like he will deliver on none of them and selling a 22 year old a year after buying him tells you nothing has changed within the board.
We have wasted so much money over the last few years that its criminal. I am quite happy to see the club being run efficiantly for a change and maybe thats more possible because we have dropped down a division but long may it continue.
Of course Kretinsky was rumoured to be adding circa £90m to the coffers with a share issue, obviously that cannot happen whilst Staveley is around
Hi Martin what is the source for behind scenes debt repayments . Also we might owe money for players but I laugh as there is amortisation so not all debt would be pain in any case . Plus I very much doubt we have bought £190 million worth of players . Still sounds like Sullivan I’m afraid to say
Well if Diouf goes for the proposed £40m then that means the £190m of outstanding transfer fees can be paid. That just leaves the fact of £a 105m loss to recover. presumably some clever accountant will keep us within the financial rules and that’s what is setting the budget constraint.
I think every West Ham fan wishes Shaka was taller that day. Whilst I liked Dean Ashton, Alan Devonshire was always my favourite. One of my first games was vs Bury in 1983, sadly not the 10-0 second leg but the 2-1 first leg where to be honest 4th Division Bury were the better side.
Striker is priority. Then another winger. We need more goals in the team!!
I think we are ok for defence….
KWP, Mayers, Kilman, Mavropanos, Veltman, Golambekis, Diouf, Scarles, Casey
And ok for centre mid….
Kante, Orford, Alvarez, Magassa, JWP, Soucek
Bang on any funds however limited must be spent on a striker who will also be good enough for the premier hopefully next season…
I was hoping these sort of leaks would stop, I don’t need to know what the budget is and neither do clubs we are trying to buy from.