Prudence from the New Owners
West Ham have today released an official statement by the new Non-Executive Chairman Andrew Bernhardt. The statement says that the club does not need to sell players but emphasises that West Ham must be self-financing,
"The wage bill has been reduced and the settlement agreed with Sheffield United is budgeted for.
"I can assure fans that Gianfranco absolutely does not have to sell any players for financial reasons and new players will be arriving in the summer to augment what is already a strong playing staff.
"We totally support his philosophy of following the West Ham tradition of bringing young players through, as well as investing in new talent where appropriate.
"But we also believe the club should not spend more than it earns and thus increase the debt. It simply isn't necessary when you have such a talented management team and pool of up-and-coming young players. It seems pointless to invest in West Ham United's world famous academy if you are then not going to use the players you have nurtured and developed."