Extra Money Not for Players

It seems that the extra £30.5 million pumped into West Ham today will not be available for buying new players. According to The Guardian the money is being used to 'bolster the financial base' of the club. Which the paper interprets as paying off some short-term borrowing that was undertaken to fund the £45 million spent on players in the last year.

The Guardian also claim that Eggert Magnusson's departure from the club may have been partly due to a thawing of relations between him and the owner Gudmundsson. It appears that Gudmundsson was alarmed at "a number of decisions he took as chairman, most particularly in player-wage negotiations".