£4 million Needed to Pay Wage Bill
David Sullivan has revealed that West Ham were 10 days away from possible administration in January and will need another £4 million pumped into the club in the summer to pay the players' wage bill.
"West Ham United were ten days away from a total fire sale of all their players or administration, or worse, in January. I believe that in the next 12 months a substantial club will not only go into administration, but it will be liquidated and cease to exist.
"We had to inject £15 million in January to prevent this happening at West Ham and a further £4 million will be injected, by myself and David Gold, to pay the summer wages.
"Over the Summer months and next 12 months we will continue our policy of trimming excess, whilst trying to bring a better team to Upton Park. We cannot let West Ham United become another Portsmouth or Crystal Palace."