Kieran Maguire tips West Ham to reject ‘huge’ offer amid Kretinsky ‘trading’ claim
West Ham have managed to avoid the worst of the pandemic’s financial impact and so will not need to make use of Uefa’s latest relief fund.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about West Ham’s budgetary situation.
Per the Financial Times last Thursday (16 December), Uefa has partnered with investment bank Citigroup to provide relief to Covid-hit clubs.
Citigroup will lay on close to £6billion in emergency funds if Uefa’s executive committee ratifies the deal at an imminent meeting.
West Ham posted losses of £65.3million over the last financial year despite recording their best-ever Premier League season in 2020-21, finishing 6th.
But Maguire asserts that the Irons will reject any Uefa handouts as Daniel Kretinsky and company will want to retain control over the club’s trading.
“Ultimately, it’s a loan, a huge relief fund,” he told Football Insider‘s Adam Williams.
“Clubs will be applying for it. West Ham will be pretty insulated from that given that they have managed to come through Covid relatively unscathed.
“So I can’t see them applying for this. Also, if the finance package is anything like what we have seen with the deal for the EFL, it will have strings attached.
“I don’t think Gold, Sullivan or Kretinsky will want an external body restricting their ability to trade as they so desire.“
Czech billionaire Kretinsky bought a 27 per cent stake in the Hammers in early November.
The 46-year-old has agreed an option for a full takeover after 2023.
In other news, West Ham make move to sign Khvicha Kvaratskhelia as January asking price revealed.