Kieran Maguire suggests cash could soon be 'leaking out of West Ham' amid £45m reveal
West Ham have spent £45million over the last decade on interest costs.
So says finance expert Kieran Maguire, speaking exclusively to Football Insider about recent remarks made by Hammers co-owner David Sullivan.
Speaking to Hammers News on 27 September, Sullivan admitted the club was “£150m in debt” and that they would welcome new investment.
Sullivan does not favour a total buyout, however, and dismissed PAI Capital’s recent takeover attempts out of hand.
This site first broke news in July that Sullivan and fellow stakeholder David Gold were willing to sell a combined total of 30 to 40 per cent of their shares.
Fresh investment could help offset the club’s mounting debt, which Sullivan revealed had skyrocketed after losing £70m throughout the pandemic.
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But Maguire warns that any prospective new partner will look for a substantial return on their investment.
He told Football Insider correspondent Adam Williams: “If they can reduce the costs in terms of debt, that would be beneficial.
“West Ham have spent £45million in the last decade in interest costs. That’s £45m that could have gone into the playing budget.
“But they have to be cautious because any potential investor is going to look for a return on their investment.
“How are they going to achieve that return? They might start looking for dividends, which is money leaking out of the club.
“Alternatively, they might look to flip their investment and sell to somebody else in two or three years.
“In that case, the focus isn’t on the football side of things, it’s on profit generation.”