More on West Ham United Football CLub here.

User Posted Link

'West Ham's finances will take a hit from relegation, however, with one expert predicting the club's debt will creep over the ?100m mark.

David Bick, chairman of Square 1 Consulting, says that the Hammers' descent into the Championship will cost them up to ?50m.

David Sullivan admitted last week that in the event of relegation, he and co-owner David Gold would have to raid their personal fortunes for between ?20m-?40m to keep the club afloat.

"The loss of income from relegation, and this figure factors in the parachute payments, will be between ?40m and ?50m net," he told the Press Association. "Apart from the loss of media money, there is bound to be a loss in season ticket income, hospitality and other matchday income.

"Given their current position with debts of ?80m, it would be impossible to raise finance from bank loans now. If the chairmen put in more money as loans rather than shares, that will only worsen the position. Sullivan has talked about loans of ?20-40m, so the debts could rise to ?100-?120m. That's a huge number for any club, but especially for a club in the Championship".'

Posted By: jafski, May 16, 15:00:02