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West Ham United Narrowly Avoided Administration In January
Published May 6, 2010
|Sullivan (l), Gold Had To Pump $30.2M
Into West Ham To Avoid Administration
West Ham United co-Owner David Sullivan revealed that the EPL club was "10 days away from going into administration in January," and that he and co-Owner David Gold had to pump US$30.2M into the club four months ago to "avoid going down the same troubled route" as Portsmouth, according to Harry Harris of ESPN SOCCERNET. Sullivan indicated that West Ham "will have to make another" US$6M available "over the summer months to cover player wages when the club receive no matchday income." He "felt it necessary to come out and explain the nature of the club's financial situation after two days of newspaper reports which claimed to list the wages off all members of the playing staff." Sullivan said, "Over the last few days several newspapers and websites have published the alleged wages of most West Ham United's players. In some cases the figures are totally inaccurate, whilst in other cases they are so accurate the figures can only have come from current or past employees of the club. ... They do illustrate, as we've explained before, we've inherited a real mess" (ESPNSOCCERNET.com, 5/6).