West Ham United’s owners have responded on whether they will consider selling the women’s team to ease the club’s Profit and Sustainability Rules concerns and raise funds for transfers.
West Ham have been insistent that PSR will restrict spending until sales are made.
The West Ham board also dropped a bombshell that £100m losses are coming in the next accounts, due in December.
To make matters worse the Hammers borrowed against – and spent – all £69m owed to them for transfers in a deal with Barclays which helped fund last summer’s spending.
West Ham’s financial issues restricting spending
Now the Hammers are struggling to offload players like Mohammed Kudus to enable Graham Potter to make signings of his own.
Fans are furious at the situation, questioning how savvy business people like David Sullivan, Daniel Kretinsky and Karren Brady could allow West Ham to get themselves in such a mess.
This week it was claimed West Ham’s owners can inject up to £90m this summer to help with transfers having insisted they have little wiggle room due to PSR.
But they will reportedly only do that if they need to.
West Ham head coach Graham Potter with his hand on his face ahead of a game at Manchester United as he appears to be feeling the heat
Photo by Marc Atkins/Getty Images
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West Ham have not made any signings thus far, failing to take advantage of the extra month added to this summer’s transfer window.
What was seen as a big chance for Potter to get signings in early as he plots his overhaul has been passed up.
With no sales on the horizon, the prospects of making signings anytime soon seems bleak.
Meanwhile other clubs are leaving no stone unturned in trying to find loopholes around PSR.
Chelsea have registered a huge profit from selling hotels and their women’s team to a sister company.
Could Hammers exploit PSR loophole like Chelsea and Villa?
Chelsea sold the women’s team for a stated £198.7million and two hotels for £70.5million. The deals have helped West Ham’s rivals spend massive amounts on players for the men’s first team while complying with PSR.
Now Aston Villa are exploring doing the same thing by selling their women’s side, according to the likes of The Athletic.
They say if you can’t beat them, join them.
So could the Hammers use that particular loophole while it is still open?
West Ham United FC v Tottenham Hotspur FC - Barclays Women's Super League
Photo by Richard Pelham – The FA/The FA via Getty Images
Now West Ham’s owners have issued a response on selling the women’s team to get around PSR.
West Ham Women finished ninth in the Barclays Women’s Super League last season, with eight more points than in 2023/24.
They set various club records, including the most points and most wins at home in a single WSL season, as well as their biggest-ever win in the competition.
It is important to note the Premier League would have to ratify the valuation put on the women’s team if West Ham were to sell to a sister company like Chelsea have done.
West Ham owners respond on selling women’s team to get around PSR
But speaking exclusively to Hammers News, the owners have ruled out selling West Ham Women to raise transfer cash and comply with PSR.
“The problem is, it is not worth much in terms of financial value,” the top spokesman for West Ham’s owners told Hammers News.
“It loses £1.5m/£2m per year, but that loss is not included in PSR computations as it is not the men’s team.”
Besides improved performance on the pitch and European qualification, that leaves three options for West Ham to raise additional revenue.
Player sales being one, the owners injecting that £90m through rights issue being another and the sale of the club, in part or whole.
The most obvious avenue would be the Gold family’s 25 per cent stake being sold.
But having been on the market since October 2023 and out of probate for months now, there is yet to be any firm bid.