Kieran Maguire: West Ham need fresh funds as source reveals Daniel Kretinsky finance problems
West Ham may need to take on fresh loans to fund their transfer activity if Daniel Kretinsky’s money continues to be tied up in Russia.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Czech billionaire’s business interests.
Kreintsky acquired a 27 per cent stake in the Hammers for approximately £180million in November last year.
The deal was done with a view to a full takeover after a windfall tax clause at the London Stadium expires after 2023.
But a source close to West Ham has told Football Insider that sanctions on Russian business have left him unable to access much of his cash reserves.
It is understood that the Irons’ transfer plans are currently on the backburner as a result.
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But Maguire predicts that Kretinsky could use private loans as a temporary measure to fund new additions this summer.
“The aim of West Ham’s owners historically is that they’ve been relatively self-sufficient in the transfer market,” he told Football Insider‘s Adam Williams.
“If Kretinsky was planning to put on the afterburners in the transfer market, this could delay things a bit.
“But 2023-24 is still a few transfer windows away and the geopolitical situation will likely have changed by then.
“Instead of increasing equity investment, the money is likely to come from loans.
“Individual investors can still spend as much as they choose, but it would come into the club through debt.”
West Ham posted a pre-tax loss of £26.9million in their last set of accounts.
Their finances would receive a major boost if they qualify for the Champions League, with the Irons currently six points outside the top four.