West Ham heading towards insolvency? Juventus chief Andrea Agnelli seems to think so.
The Juve supremo suggested earlier this week that the Hammers were one of several big clubs around Europe on the brink financially (Calcio Mercato).
Those suggestions seem to be well wide of the mark, however.
That’s according to club insiders Claret and Hugh who claims that a high level source has told them that the club is in ‘safe hands’.
David Sullivan and David Gold have taken out numerous loans secured against assets at the club. That is common knowledge.
There isn’t that much money available to David Moyes at the London Stadium this summer.
So it is easy to see why some people may think that West Ham are struggling financially.
We may be struggling but to suggest that we’re on the brink of insolvency is quite frankly ludicrous.
West Ham insolvency claims given short shrift
Claret and Hugh claims that a high level inside source told them:
“COVID has hurt the club very badly but it’s in very safe hands it’s very odd that we were picked out.”
The global pandemic has undoubtedly affected teams all over the globe.
We did achieve a sixth placed finish in the Premier League table, however. So that, along with European football and TV money surely means that our financial situation isn’t too bad.
The proof will be in the pudding, however. We will be in a much better position to judge on September 1st when the transfer window has closed.