Have West Ham fans been fed a £100m red herring after some extremely exciting developments in the transfer market over the last week?
That’s the question Hammers News is asking today after a steady stream of news regarding West Ham’s transfer plans.
It’s been the worst kept secret in football that West Ham need to spend big and spend well this summer.
Technical director Tim Steidten has taken full control of West Ham’s recruitment.
Julen Lopetegui has been appointed with the title of head coach rather than manager for that very reason.
The Spaniard is having an input on West Ham’s transfer plans of course, making it clear to Steidten and majority owner David Sullivan which positions he wants to see strengthened.
Hammers News revealed months ago that West Ham will be looking to make between six to eight signings this summer.
That fact has since been widely reported elsewhere, with every position Lopetegui and Steidten want to see strengthened named at the weekend.
Reported budget won’t go far for eight signings
With so many signings needed and a new boss looking to be backed, there’s no hiding that the Hammers must spend.
At the end of last month, prominent West Ham insider Sean Whetstone claimed the club’s transfer budget would be around £100m.
And that any further funds from sales would be added to the kitty.
While that may sound a lot, many fans have pointed out it averages at around £15m per signing.
It has also been noted that West Ham are on course to announce record profits of over £360m in their next set of accounts.
Since then West Ham are on the verge of unveiling their first signing of the summer in the shape of Luis Guilherme.
A deal of around £20m up front with another £5m in add-ons was struck with Palmeiras for the teenager.
Sky Sports journalist Florian Plettenberg has since stated that Guilherme is seen as a “prospect player for future years” by West Ham.
But have West Ham fans been fed a £100m red herring after some exciting developments?
£100m red herring after exciting developments?
If the budget is correct, West Ham have just spent a fifth of it on one player.
Yes the third-choice goalkeeper situation is being sorted for free with the imminent arrival of Wes Foderingham.
So that leaves £80m to spend on another six players – a crude average of just over £13m per signing.
The Hammers have to sign two top new centre-backs and a striker with that money among the other six additions.
And players in those positions don’t come cheap.
We revealed yesterday that Sullivan is said to be willing to please Lopetegui by sanctioning a big money move for defender Max Kilman.
West Ham are also being linked with £17m Youssef En-Nesyri, £17m Jota Silva and a host of other stars.
Indeed the Hammers are even reportedly willing to pay £20m for Corinthians star – and Guilherme’s Brazil Under 20 teammate – Wesley Gassova and leave him where he is until January.
Of course the Hammers may know they have additional funds coming in from selling the likes of Nayef Aguerd and Kurt Zouma.
But the links and alleged budget simply don’t add up.
And that’s not necessarily a bad thing. Because it may be a sign that West Ham are finally being savvy in the transfer market.
Hammers finally showing transfer market savvy?
When clubs know how much you have to spend prices are immediately inflated.
Just look at Chelsea. It’s clear Todd Boehly and co have the money and they’re spending it almost recklessly. And they are paying over the odds for almost every signing they make.
The board have come under fire from some fans since the budget reveal. They have been pointing to the fact West Ham are about to announce record turnover exceeding £365m in their next accounts and asking why Steidten does not have more money to play with.
But should we actually be praising them for putting out a £100m red herring to keep selling clubs guessing?
Let’s also not forget that football finance expert Kieran Maguire revealed West Ham are ranked third in the Premier League in terms of the best EBITDA.
EBITDA stands for earnings before interest, taxes, depreciation and amortisation. It is a standard of financial measurement used to judge a business’ performance.
Only Arsenal and Brentford – widely regarded as two of the best run clubs across Europe – have a better EBITDA score than West Ham according to Maguire.
The Hammers are even ahead of Spurs.
Facts, figures, logic and links suggest something more exciting
That combined with the record turnover and a strong wages-to-turnover position means West Ham likely have more to spend than they’re letting on.
Let’s look at this logically. Lopetegui walked out on Wolves on the eve of last season over broken promises regarding spending and ambition.
So would the 57-year-old have agreed to be the figurehead for such a mammoth West Ham rebuild if he hadn’t been given assurances over spending?
Indeed would Steidten have stayed amid interest from elsewhere if he didn’t feel he was going to get the requisite funds for the players he wants?
Gary Neville predicted the Hammers would be among the biggest spenders this summer.
The facts, figures, logic and links seem to suggest he will be proved right.
Except nowadays it seems savvy and cunning West Ham are doing things properly for a change.