David Ornstein calls bluff on David Sullivan’s West Ham transfer funds red herring. Athletic journalist David Ornstein believes West Ham fans are being fed a red herring over transfer funds by David Sullivan.
West Ham have been preparing supporters and Graham Potter for a difficult summer transfer window.
The Premier League’s Profit and Sustainability Rules (PSR) have tightened belts at even the richest clubs. But PSR, coupled with big spending in a bid to keep up with the competition, has – according to West Ham’s owners themselves – left the club in a tough position financially.
Clubs cannot post losses of more than £105m over a three-year period under PSR. West Ham chief David Sullivan recently warned £80m losses are on the horizon for the Hammers in the next accounts.
The Hammers already have plans to try and raise £100m in West Ham player sales this summer. Whatever the club raises will form Potter’s transfer budget.
Hammers claim ‘financial mess’ ahead of difficult summer
But West Ham also have to start paying the £32m for Jean-Clair Todibo to Nice from this summer too.
There has been a clear campaign from those inside the club to manage the expectations of fans aheas of the next window. A top board source told fans earlier this month: ‘our finances are a mess’.
One of the reasons is the fact the club went out and spent over £120m – not including Todibo – last summer.
That cemented West Ham’s place as the sixth biggest spenders in the Premier League since January 2022 – a couple of months after the arrival of Daniel Kretinsky which pumped £150m into the club.
To fund last summer’s spend West Ham did a £69m deal with Barclays to get access to transfer cash owed to them early.
The Hammers forfeited £4m of that by way of payment to the bank in order to have £65m to spend in the failed rebuild.
Now another overhaul is needed this summer following the appointment of Potter and new head of recruitment Kyle Macauley.
But supporters are concerned Potter will not be able to shape the team and squad how he wants it as a result of the financial situation.
West Ham’s desperation for cash was made clear by unprecedented action they took last week.
Ornstein calls bluff on Sullivan’s transfer funds red herring. The board brought forward season ticket renewals by over two months and offered a series of controversial perks to supporters to get them signed up as soon as possible.
Many supporters are perplexed that savvy business-minded people like Sullivan, Kretinsky and vice-chair Karren Brady would allow the club to back itself into a corner like this.
Now top journalist David Ornstein has called bluff on Sullivan’s West Ham transfer funds red herring.
In his latest Q&A for The Athletic’s Insider column, Ornstein insists he is not aware of any legitimate financial restrictions at West Ham.
And Ornstein insists the club will be investing in Potter and Macauley’s vision.
“West Ham are always active in the market, especially summer, and I expect them to be again,” Ornstein said in response to a fan asking whether it is true the Hammers must sell to buy.
“The striker position is probably still high in their thinking, given EF’s loan will end and we don’t know what will happen with MA. I’ve not heard they’re in a ‘sell to buy’ position, especially given their financial health (heavily aided by the stadium, of course). “It will be the first off-season for Potter and Macauley. Let’s also see if the lub add to their sporting/recruitment set
