By Wayne Veysey

29th Dec, 2019 | 12:06pm

Exclusive: Pellegrini handed mammoth 7-figure West Ham cash bonus

Manuel Pellegrini has been handed a £2million pay-off by West Ham, Football Insider can reveal.

The Chilean, 66, was axed by the Hammers in the immediate wake of their 2-1 Premier League defeat to Leicester City last night.

A West Ham source has told Football Insider the extent to which Pellegrini will financially benefit as a result of being dismissed midway through his three-year contract.

He was earning around £200,000-a-week at the London Stadium and will land a further £2million on top of that.

The mammoth seven-figure pay-off is the final sum Pellegrini will be handed by the club.

It is not uncommon for managers to receive major windfalls when dismissed, or to continue to be paid by their former clubs until they secure a new job.

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But it will not be lost on West Ham fans that Pellegrini will be cashing in at a time when the club are preparing for a major January overhaul.

West Ham entertain Bournemouth on New Year’s Day but the club are yet to announce who will take charge for the game.

As reported by Football Insider in recent weeks, David Moyes is hot favourite to replace Pellegrini and return to the Hammers dugout for a second time.

Discussions have taken place already, but Moyes is holding out for a long-term contract rather than just a deal that runs until the end of the season.

In other West Ham news, it can be REVEALED that £18m Hammers star may be the biggest casualty of mass January overhaul.