West Ham United are facing a cash flow hole of between £60 million and £80 million as a result of the lack of Premier League action, that is according to a report from Football London.
Football in England and most parts of the world is currently on hold due to a global pandemic which has had a major impact on life in general. As it stands the Premier League is currently suspended indefinitely (Sky Sports), meaning that there has been no games for a while and there are none on the horizon either.
With no action taking place it means that many clubs are being hit hard financially and it is no different for the Hammers. According to the report, they are paying out £10.5 million in wages per month to their players, whilst also paying off £44 million worth of transfer fees this year. Then on top of that they are now missing out on facility fees for live TV games worth £1.2 million each, whilst earnings from the club shop have stopped after it was closed, which is worth around £750,000 per month to them.
It is thought that David Moyes and his staff are willing to take pay-cuts in order to ease the pressure on the club, but these financial issues will certainly be a worry.
After seeing reports of the problems, many Hammers fans have been responding on Twitter. One even suggested that this means owner David Sullivan now has an excuse for not spending money in the next few years.
Here is what some had to say…
Relying so heavily on TV money is such a stupid way of existing, glad we moved to gain more financial security though!
— James Gunn (@jamesgunn_) April 6, 2020
Excuses coming out already 😂😂
— will earle (@willearle_) April 6, 2020
Great now Sullivan has a legit excuse for not spending for the next 5 years
— Simon②⚒ (@BrexitIniesta16) April 6, 2020
G&S to loan the club the money and charge interest??
— Kris Johnson (@kjohno10) April 6, 2020
Does that mean that the fans who they class as customers and seemingly not important as they don’t need our gate revenue might now be a bit more important and classed as fans again
— Dave Franklin (@david_franklin8) April 6, 2020
Something stinks here! So a massive cash flow hole yet they still only pay £2M for the stadium!?
— ⚒ (@BoleynE139AZ) April 6, 2020
West Ham fans, are you worried about these financial reports? Let us know below…
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