Incoming new Hammers boss Julen Lopetegui will be ecstatic at a board insider’s new £365m West Ham United claim.
It has been abundantly clear for some time that West Ham need to spend big and well this summer.
Regardless of who was going to be West Ham’s manager next season.
We know now that man will be Julen Lopetegui with the ex Spain boss set to be officially unveiled next week.
While West Ham have been holding off on making an official announcement about Lopetegui until the end of the season, he has – we’re told – been working behind the scenes on transfers with Tim Steidten.
The technical director has full control of recruitment with Lopetegui set to be head coach rather than manager.
The Spaniard will have an input and has already reportedly told Steidten and David Sullivan the positions he wants to see strengthened.
Lopetegui also arrives at the club with his own list of four La Liga stars he wants West Ham to try and sign.
Big rebuild requires big investment
The 57-year-old will inherit a threadbare 16-man squad from Moyes.
In theory that means West Ham need as many as nine new signings because – unlike Moyes – Lopetegui prefers to work with a full-size squad.
What is clear from his time ta Wolves, and the way he left, is that Lopetegui also demands investment from the owners.
Well Lopetegui will be ecstatic at a board insider’s new £365m West Ham claim.
Last month board confidant Sean Whetstone claimed the Hammers are on course to make record profits of over £360m.
Whetstone counts Sullivan and vice-chair Karren Brady among his contacts at West Ham.
All eyes – including Lopetegui’s no doubt – will be on whether they and the likes of Sullivan’s co-owner Daniel Kretinsky show ambition by making serious funds available.
Strict PSR rules mean clubs can only spend a certain percentage of what they earn.
Lopetegui will be ecstatic at new £365m claim
Now Whetstone has doubled down on West Ham’s financial situation which means the club is in rude health when it comes to PSR.
Especially considering West Ham also have the fourth best wages-to-turnover ratio.
“West Ham could are likely to record turnover of £365m thanks to a good European run, a ninth place finish in the Premier League and the sale of Declan Rice in this financial year which finishes at the end of this month,” Whetstone said.
“This season West Ham will book a full £100m profit on Declan Rice as he was sold to Arsenal on 15th July last year six weeks after last years Hammers’ financial year-end. In a twist of fate, sales are recorded in the single financial year they are sold in the accounts, unlike incoming transfers which are spread over the life of the contract.
“West Ham is likely to earn £148m from Premier League TV money this season with an Equal share of £91.7m, TV facility fees: £19.2m, and merit payment: £37.4m with the Hammers now confirmed finishing ninth. Add to this an estimated £23.5m earned from the Europa League prize money in a cup run to the quarter-finals.
“Ticket match day revenue is likely to reach £45m plus commercial/sponsorship of another £35m revenue plus retail sales of around £13.5m That would create a record turnover for this season of around £365m way above the £253m recorded two seasons ago.”
Cynics among the West Ham fanbase won’t believe it until they see it of course.
But this is very encouraging indeed. Particularly for Lopetegui and Steidten.
West Ham backed Moyes with over £500m on signings in four-and-a-half years.
Hammers supporters will be expecting even more ambition in the transfer market to support Moyes’ replacement as turnover soars.
