David Sullivan has revealed West Ham are paying the maximum wages allowed under Premier League rules and would have to sell to buy in January.
West Ham are braced for losses of up to £17million in their final season at Upton Park after heavy expenditure on 12 new players – and a new manager, Slaven Bilic, over the summer at a combined cost of more than £40million.
Wins at Arsenal and Liverpool were sandwiched by home defeats to Leicester and Bournemouth, but a 3-1 victory over Newcastle on Monday night lifted the Hammers to fifth in the Premier League after five games.
“I cannot remember a more exciting or successful window during our time at the club,” the club’s co-owner Sullivan said. “We brought in 12 new players at a cost of over £40million but that was only possible because [the other co-owner] David Gold and I made sure we dug deep to get the players we wanted. We thought it was important this season, with the move to the new stadium, that we bought players in every position to create the best squad and team that has been at the club since we arrived.
“As a result, we are now at the maximum wages we are allowed to pay under Premier League rules and, therefore, if we wanted to buy again in January we would no doubt have to sell someone before we would be allowed to make signings. It also means we expect the club to make a loss of between £10million and £17million this year, depending on where we finish in the Premier League and the number of games we have televised. This is indicative of just how seriously we took this window and the signings we wanted to make.”
West Ham’s biggest summer purchase was £10.7million forward Dimitri Payet, who scored both goals against Newcastle, with £7.9million Angelo Ogbonna and £7million Michail Antonio among the other major purchases.