West Ham Wednesday Bulletin: Graham Plotter And The Window Of Uncertainty

Updating Transfer Windows – 13% Complete – Please Do Not Switch Off

What better way to undertake a massive summer squad overhaul than to leave everything until the last minute. While other clubs move with purpose to secure their chosen signings, the good folks at the London Stadium are left paralysed in an endless loop of talk but no action.

At the time of writing, eight players who featured in the first team last season have already checked out. If reports are true, the club are also willing to push a further three or four through the departure gates over the coming weeks. Regardless of the quality of the departed, it’s one hell of a gap to fill with just over four weeks to go before the big kick-off – despite yesterday’s welcome signing of El Hadji Malick Diouf from Slavia Prague.

As fans we are frequently reminded how important it is to get in a full pre-season. It is the go-to excuse manager’s use after every poor start. And yet the cunning West Ham plan is to enter theirs with barely half a team. Past performance caveats notwithstanding, Graham Potter’s inability to create a cohesive unit in five months last season does nothing to dispel fears that there’s a season of struggle ahead – and the further hit of revenues that comes with it.

If anything can be read into the Diouf signing, it is that Potter intends to settle on a formation that involves wing backs providing width in advance of three central defenders. Possibly a 3-4-3 but, more plausibly, the less enterprising 3-5-2 underpinning the coach’s dream of competitively losing most games by a single goal. All that’s needed now then are the missing, keeper, central defenders, midfielders, and forwards to convert the dream into possession-based reality.

The transfer window stays open beyond the start of the season until September 1. There are sure to be more ins and outs – eventually, and almost certainly later than desirable. As always the list of online speculative targets is as lengthy, abstract and mysterious as Jeffrey Epstein’s’.

The Madness of Chairman Dave

It would be unfair to point the finger of indecision exclusively at Potter and Kyle Macaulay for the absence of transfer activity. For all we know, they have been working diligently and with laser sharp focus on a data driven list of potential young and athletic recruits to fit their chosen style of play. Players who would both improve the squad technically and ensure that it is faster, fitter, and younger. The signing of Diouf looks an excellent first step in that direction.

But as we all know, hovering in the background of any transfer negotiation is the malignant interference of Chairman Dave and his Baroness sidekick. Ready to scupper or derail the latest recruitment plans as he had with Husillos, Newman and Steidten in the past.

By chance, I came across an article I had written in 2017 (below) after hearing a Sullivan radio interview where he “accepted that by focusing on proven and experienced ability the club had adopted a short-term view for its player recruitment.” The suggestion being that this short-term thinking was about to change. But here we are eight years later beating the same drum on the club’s failure to adopt any semblance of long-term strategic thinking.

Sullivan: Give Me Just A Little More Time!

The West Ham friendly media continue to frame the Hammers transfer dealings as a delicate PSR balancing tightrope. Indeed, there may well be trouble ahead if PSR is not abandoned (as many expect) in favour of a simpler squad cost ratio. But this is not a today problem. And if the worse comes to the worse, why not sell the women’s team to yourself as others have already done?

The most recent financial distraction has involved scare stories circulating about the need to repay the club’s overdraft facility with Barclays Bank. This is an arrangement that has been in place some years and its relevance has been significantly exaggerated. In fact, a standout feature of West Ham accounts in 2024 was that the club has next to no financial debt, having paid off any external loans at the time of the last cash injection into the club. This is quite unusual for a Premier League club where financial debts of £300 million or more are not uncommon. It should be noted, however, that financial debts do not include outstanding instalments on player transfers.

Clearly West Ham do have a cash flow problem. It is something the Board must address independently of any PSR considerations. The need to inject capital on a regular basis is now an essential requirement for any Premier Club with ambition. If the current board are not up for that, then it’s time to find someone who is.

It’s Been The Ruin of Many A Poor Buy

I have mixed feelings about the transfer of Mohammed Kudus. Not that he was sold but the size of the fee that he finally went for.

Unless the club is bought by a sovereign wealth fund or similar, the only way West Ham can hope to mount a consistent challenge at the right end of the table is to profit from player sales. When you consider that Manchester City’s kit partnership with Puma earns more in a single deal than the Hammer’s combined Commercial and Matchday revenues then the size of the gulf is clear.

Kudus should have been a perfect model of buy low, sell low. Pick him up from a lesser league, develop him over a couple of seasons and sell on at a handsome profit. Yet despite early promise, it didn’t work out like that.

Some may say it’s good riddance to a player with a bad attitude. Others may see a player who became fatally frustrated with how he was handled by a succession of poor management decisions. Whichever it was, his first season promise evaporated to the point where none of the truly rich clubs were tempted by the lure of his buy-out clause. Throw in Sullivan’s bizarre decision to let the world know how skint West Ham were and it provided the perfect storm for Daniel Levy to nip in and buy Kudus at a knock down price. The transfer fee may represent an accounting profit of £30 million or so – a rare bounty for West Ham – but it should have been far higher.

Tottenham has often (along with West Ham and Manchester United) been one of the Premier League career graveyards for big money signings, but I predict Kudus will be a big hit there if Thomas Frank translates his rapid counterattacking style of football from west to north London.

Young, Gifted and Back (On The Bench)

For a club that styles itself as the ‘Academy of Football’, the record for developing young talent in recent years has been abysmal. In the last ten years, new academy graduates have made a total of 253 Premier League starts for the Hammers. Of those, 190 were Declan Rice with the remainder comprising Ben Johnson (38), Ollie Scarles (7), Grady Diagana (6), Jeremy Ngakia (5), Reece Burke (4), Reece Oxford (3). Without the good fortune of picking up Rice when he was rejected by Chelsea it is very sorry reading.

The idea then that today’s current batch of youngsters might come to the club’s rescue as ‘Potter Gives Youth A Chance’ sits somewhere between wishful thinking and clutching at straws. I am as thrilled as anyone whenever a player emerges from the youth setup to become a West Ham regular. And hopefully, one or more of the current crop can do so. But history advises caution.

I try to keep tabs on the players out on loan from West Ham season but did not get the sense of outstanding successes that some have been reporting. No-one really pulling up the proverbial trees. I would be very happy if there are breakthroughs this season but I wouldn’t want to bet our Premier League future on it.