West Ham have taken further steps to rid Nuno Espirito Santo's squad of deadwood before the rebuild truly gets going.
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Even before relegation to the Championship was confirmed in May, the Hammers were expecting to sell several first-team players to help balance the books following the announcement of record losses.
The club's financial landscape has changed significantly since then, with David Sullivan resigning and Daniel Kretinsky making moves to become majority shareholder.
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West Ham no longer need to sell their best players but have accepted that some will need to be sold regardless.
Mateus Fernandes was the first to leave, securing an £85m move to Tottenham.
Crysencio Summerville is expected to follow suit in the coming weeks, with Chelsea reportedly opening talks over a possible deal.
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There are, though, several other players in the squad who are deemed surplus to requirements and will also be allowed to leave London Stadium this summer.
One of those is Edson Alvarez, whose West Ham career stalled dramatically the moment David Moyes left the club in 2024.
Alvarez set for another loan exit
The Mexico international spent last season on loan at Fenerbahce but injury issues limited him to just 12 league appearances.
West Ham's relegation almost certainly meant he wouldn't return to win his place back in the Hammers' midfield and a permanent exit has been likely ever since.
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But according to Sky reporter Florian Plettenberg, West Ham have agreed an agreement in principle with 1. FC Koln over a loan deal for Alvarez.
🚨⏳ 1. FC Köln and West Ham have reached an agreement in principle over a loan deal for Edson Álvarez.
The main issue is reaching a full agreement with Álvarez over his salary. 28 y/o leader would have to take a significant pay cut to join the #Effzeh. He also has offers from… pic.twitter.com/NRxMnt6hRr
— Florian Plettenberg (@Plettigoal) July 9, 2026
It's not yet known what the terms of the loan are but it looks seemingly likely that the 28-year-old is ready to secure yet another loan move away from east London.
Plettenberg does state that personal terms could become a stumbling block for the Bundesliga outfit, but Alvarez has already been given positive feedback about the club in an attempt to convince him to sign.
It's claimed the midfielder also has offers from Turkey.
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Alvarez's fall from grace
The Mexican was signed by David Moyes from Ajax in a £35.4m deal in August 2023.
He was bought to directly replace Declan Rice.
His first season was relatively successful, with two goals and two assists in 42 appearances in all competitions. He was something of a Moyes favourite in midfield.
But following Moyes' departure at the end of that season, Alvarez struggled for form under both Julen Lopetegui and Graham Potter.
Despite making 31 appearances in his second campaign, he struggled to adapt to the change of style both managers tried to implement.
From then, it was clear his days in east London were numbered.
A loan to Fenerbahce last season was supposed to help revive his career and potentially boost his value ahead of a possible sale this summer.
But injuries and bad form restricted him to minimal game time in Turkey.
That could be why West Ham are having to settle for another loan this summer, instead of being able to cash in on the Mexican.
His contract runs until June 2028 so it wouldn't be a surprise if the Hammers tried to include an obligation to buy in the deal with Koln this summer.
Otherwise, they'll risk being in a similar situation in 12 months' time.
What do you think of Alvarez's time at West Ham? Let us know in the comments below.