Behind The Scenes Development For Irons

Hammers recent transfer activity, or lack of it as some fans perceive, has taken on an entirely new dynamic of late although it may not seem obvious to those not within the club's inner sanctum. New 2nd highest share owner Daniel Kretinsky's arrival was heralded by many as the 'start of something special', unfortunately as with many 'special events' of the past at the club the much heralded fireworks ended up as a damp squib!

Kretinsky didn't amass his wealth by being a nice guy, neither did the two Daves at West Ham or Birmingham, the difference in football club owning finances is that Gold and Sullivan don't have a pot to piss in! Of course they are both extremely wealthy individuals in the real world, but football club ownership, especially in the Premier League, is all about 'massive' wealth.

While Sullivan and Gold both have access to considerable finances, their wealth is tied up in concrete investments that cannot easily be converted to ready cash without fiscal forfeit much the same way as bank customers are penalised for withdrawing their money from deposit accounts outside or the prescribed times. Essentially they 'only' have 'paper money', most fans would love to have a similar problem, but then again most fans don't own football clubs!

The bean counters at West Ham ARE a very efficient and creative collective, but even they cannot confidently submit figures without knowing they are fighting a continuous financial rear guard action, each season is a war of attrition to them which is relentless due to the constant need for contract renewals, player acquisitions and the dreaded player amortisation!

What is unique about this transfer window's activities is that the newest board member, who as we have stated is actually the 2nd highest share owner of the club, has REAL CASH available, but he won't be giving it away! What he can do is loan the club money at base rate or below, which benefits the club and it's player recruitment massively.

Up until a couple of seasons ago the club, just like several other Premier League clubs used to take out a 'payday loan' against TV revenue and season ticket sales, a Premier League governing body ruling changed that financial stream, leaving West Ham among others up the creek without a paddle.

The 'Kretin in the Sky' arrived just in the nick of time, as the club was facing severe fiscal meltdown as a result of the Covid pandemic and the need to pay back some of it's TV revenue, you only have to look across to France to see how all but ONE of their clubs are having to accept deals for their players which are market value minus 50% at least!

Make no mistake, IT IS Kretinsky, or at least it is his money behind the current recruitment, Kretinsky's ability to hit the go button for transactions means the club has been able to compete during this window, albeit at a lower level than some of the club's newly minted or newly demented competitors.

Don't be surprised if a little 'accompanying statement' is subtly added to the minutes of a WH Holdings company accounts meeting lodged at companies house stating that there has been a 'green labeling' of shares which sees the club receive more 'readies' for the purchasing of players under written by one of Daniel Kretinsky's holding companies.

Perhaps when the 'bean counters' get the 'hard copy' of the documents in the post they might pop out and get a decent bottle of champers and a selection of Sansbury's finest sandwiches, after all Kretinsky owns substantial shares in the Royal Mail and Sainsbury s. - Ed