West Ham’s transfer failings have been laid bare by an astonishing new £318m revelation which shows exactly why the club is on the brink of disaster.
Despite the best efforts of Nuno Espirito Santo and his players, West Ham United are still in grave danger of relegation from the Premier League.
The rapid regression at the London Stadium in the last two years has spanned four managers – David Moyes, Julen Lopetegui, Graham Potter and Nuno.
The Portuguese finally has the Hammers on an upward trend and competitive like they once were under Moyes.
West Ham in world’s top 10 for transfer spending since 2021
Whether it is too little too late will be clear in the next month.
What the prolonged failings at West Ham have proved, though, is that it is the owners who must shoulder the majority of the blame.
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That has never been clearer after a new £318m revelation that puts the Hammers in the world’s top 10 clubs for transfer spending over the last five years.
Transfermarkt has listed the clubs with the highest net spends on transfers since the 2021-22 season in Europe’s top five leagues.
No other clubs in world football spend more than those in Europe.
And West Ham are in the top 10 spenders – even after sales of the likes of £105m Declan Rice and £55m Mohammed Kudus.
The Hammers have a net spend of £318m on signings in the last five years.
Man United top the list with a £675m spend, Arsenal are second with £666m, Chelsea third with £639m, West Ham’s relegation rivals Tottenham are fourth with a £590m net spend and PSG are fifth with a spend of £491m.
Hammers in relegation danger despite £318m net spend in five years
Newcastle, Liverpool, Man City, Nottingham Forest: and then West Ham make up the top 10 spenders.
It shows just how poor much of West Ham’s recruitment and transfer decisions have been in that time given the club is not only in danger of demotion to the Championship, but also in financial turmoil.
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The same is true of Spurs and Forest with all three clubs guilty of poor managerial appointments and a host of terrible transfer decisions.
The £40m signing of Max Kilman sticks out as the worst example at West Ham. Indeed Tim Steidten’s botched £155m rebuild is responsible for a big chunk of the club’s errant spending.
On the one hand, the board might argue it shows they have ambition. But at what cost?
West Ham announced club record £104m losses in their latest accounts in February.
Further losses of at least £80m are forecast for next set of accounts all while the club is at serious risk of falling off the Premier League gravy train.
That is not even taking into account the fact West Ham owe a whopping £196m to other clubs for transfer instalments.
Only five clubs in the Premier League owe more than the Hammers.
Is it any wonder fan anger and resentment towards the owners has bubbled back to the surface this season?
Supporters have long since pleaded with the ownership to appoint proper professionals to key roles at the club such as a competent director of football instead of relying on David Sullivan and his agent contacts.
The fact West Ham are in the world’s top 10 for net transfer spending and face the very real possibility of relegation to the second tier is damning of the club’s recruitment and decision-making.
There have been signs West Ham’s transfer business is improving with business conducted last summer and in the winter window.
But until that side of the club is overhauled and improved, West Ham will struggle to ever fulfil their undoubted potential.
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