By Kieran Maguire

8th Sep, 2022 | 3:36pm

Kieran Maguire: UK Government likely livid with West Ham as Russian alliance emerges

The UK Government are likely livid that West Ham are in league with a company that may be facilitating the circumvention of sanctions on Russia.

That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Hammers’ partnership with cryptocurrency firm PEAKDEFI.

The club announced in May that they had signed up with PEAKDEFI as their first “official decentralised asset management partner”.

As relayed by the Daily Mail on Tuesday (6 September), PEAKDEFI appear to be making a concerted effort to promote their business in Russia.

This is despite the UK Government’s warnings that crypto is being used by Russia to bypass sanctions implemented against them.

Maguire insists that the Irons’ involvement with PEAKDEFI will not sit well with the UK’s rulers.

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“All clubs have an obligation to do proper due diligence,” he told Football Insider’s Adam Williams.

“We have seen time and time again that links with the crypto token industry have come back to bite the clubs in terms of reputational damage. This would also appear to be the case with West Ham and PEAKDEFI.

“I think there are two issues here. First of all, if the company is targeting the Russian market, does that mean that assets can be transferred from the UK to Russia? That wouldn’t go down particularly well with the Government.

“Secondly, if you look at Coinbase, you’ll see that PEAKDEFI’S price has decreased by 97.5 per cent over the course of 2022.

“Do West Ham really want to be associated with a product that appears to have little inherent value in its own right?”

In other news, Pundit demands VAR revolution as Premier League intervene in West Ham controversy.