West Ham’s January signing of Pablo Felipe has taken a remarkable twist after Claret & Hugh learned that just €8 million of the €21 million fee actually reached selling club Gil Vicente.
The revelation raises serious questions about where the rest of the money has gone — with a huge chunk of the transfer believed to have been swallowed up by agents and third parties.
For a club already under scrutiny for its recruitment and spending, this is not a good look.
West Ham transfer fee breakdown exposes agent-heavy Pablo deal
Pablo only joined Gil Vicente last summer for around €240,000 following a loan move from Famalicão, making the scale of the January deal even more surprising.
As part of the agreement, Famalicão were entitled to a 15% sell-on clause, meaning they are due around €3 million from the transfer.
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But even accounting for that, it still leaves around €10 million of the fee unaccounted for in terms of direct club-to-club payment.
Even more astonishing is the fact Pablo reportedly had a €15 million release clause.
Claret & Hugh has been told by a Portuguese source that suggestions West Ham had to exceed that clause to structure payments are wide of the mark.
“No, it was €15m and could have been spread. I don’t know why West Ham paid so much.”
Pablo-Gil-Vicente-Transfer-West Ham
Claret & Hugh Exclusive: A source has questioned the money West Ham paid for Pablo
Pablo deal raises serious questions over West Ham recruitment decisions
From a West Ham perspective, this is where things start to look uncomfortable.
Pablo, who is yet to score for the club, has shown effort and work rate, but in terms of technical ability, he has looked well short of the required level.
The reality is, this looks like a player West Ham have massively overpaid for.
The situation becomes even more questionable when looking at the connections behind the deal.
Pablo is represented by super-agent Jorge Mendes, who also represents Nuno Espírito Santo and is understood to have recommended the player.
There is also a historical link, with Pablo’s father having played alongside Nuno at Porto — and let’s be honest, it doesn’t sit particularly well.
Add to that the recent revelation from the West Ham Fans’ Advisory Board that Karren Brady was involved in negotiating deals during the winter window, and the picture becomes even more concerning.
Last season, West Ham spent around £18 million on agent fees. Based on this deal alone, a significant portion of that figure is set to be blitzed when this years accounting is revealed.
And when you break it all down, it leaves one unavoidable question — how did West Ham end up paying €21 million for a player whose club only received €8 million?