Nick Brokenbrow retweetledi

David Sullivan has had years to build West Ham into a sustainable football club. Instead, here’s what he’s delivered:
📋 West Ham’s own accounts forecast a liquidity shortfall in Summer 2026 — and that’s the BASE CASE. The relegation scenario is even worse.
💳 The club has borrowed £124m in long-term debt through RMF and carries a £40m overdraft with Barclays expiring July 2026 — right in the middle of the going concern period. No guaranteed renewal.
💰 And Sullivan’s own money? According to the accounts, shareholder funding is the absolute last resort — only committed if player sales and debt factoring aren’t enough to plug the gap.
So let’s be clear about what that means. He’ll borrow from banks. He’ll sell our best players. He’ll factor future transfer receivables for quick cash. All of that before he puts his hand in his own pocket.
We moved out of Upton Park — our home — into a stadium we don’t own, were told it was the future, and this is where we are. A club that cannot meet its liabilities through Summer 2026 without selling players or a shareholder bailout.
The Premier League’s PSR rules exist to prevent exactly this kind of financial mismanagement. If player trading is the primary mechanism keeping this club solvent AND PSR compliant, someone needs to be asking serious questions

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