West Ham are in danger of insolvency according to Juventus chief Andrea Agnelli (Calcio Mercato).
The shock claims were made by the Italian yesterday and it came completely out of the blue.
At first glance, it just seemed like a crazy statement made by a man under fire because of his bullish insistence that a European Super League is needed to get the finances of football clubs across the world back on track.
As the day went on, however, the West Ham fans began to question whether there was actually some truth behind Agnelli’s claims.
The Hammers haven’t been active in the transfer market so far this summer aside from signing a couple of youngsters.
David Moyes hasn’t been adequately backed…yet.
Then the news broke that Declan Rice could be sold after rejecting two new contract offers from the club’s owners (The Telegraph).
Unsurprisingly, the West Ham fans started to wonder if Agnelli was right. Are there deeper rooted financial issues at the London Stadium that we are unaware of?
West Ham insolvency claims cleared up
Well it appears as though we are in a decent position.
That’s according to Claret and Hugh club insider Season Whetstone.
The question regarding the state of the club’s finances was posed on Twitter by a fan:
So whilst we have taken out some loans that are secured against current assets, it appears as though there is no immediate threat of insolvency.
Having said that, it would be no surprise to see the owners sell Declan Rice this summer in order to balance the books.
Let’s hope we’re wrong. It would be great if West Ham were really looking up this summer.
It seems as though the club’s owners are happy to stand still, however.
If there truly are no financial problems, then there is no reason why Sullivan and Gold can’t back Moyes to the hilt.
Let’s reserve judgment on that one until September 1st, however.