West Ham owners promise 'significant funds' for summer transfers

West Ham Upton Park

West Ham United co-owners David Sullivan and David Gold have released a joint statement in which they pledge to spend big in the summer transfer market.

When the duo took over their 'beloved' club five years ago, they inherited a mess.

The East Londoners were riddled with debt and struggling to survive after the disastrous reign headed up by Icelandic bank Landbanski.

The club was said to be in more than £100 million of debt and suffered insult to injury when they were relegated under Gold and Sullivan's first managerial appointment, Avram Grant.

Now, after reestablishing themselves as a Premier League force again over the last three years, the club has started to compete in the transfer market, highlighted by the signings of the likes of Andy Carroll, Alex Song on loan and Cheikou Kouyate in recent years.

But the spending won't stop there as they have promised to spend 'significantly' again this summer ahead of the club's final season at the Boleyn Ground before their move down the road to the 54,000-seater Olympic Stadium in Stratford.

Speaking to West Ham's official website, the duo said they have been encouraged by the success of last summer's signings, many of whom picked up honours at the club's end of season awards this week.

They said: "We have seen several new faces come in and make their mark on our great club and it was good to see the likes of Aaron, Top Goalscorer Diafra Sakho and Individual Performance of the Year winner Cheikhou Kouyate feature prominently on Wednesday.

"We will be making further significant funds available for squad strengthening this summer as we continue to assemble a team fit for our stunning new surroundings in Queen Elizabeth Olympic Park in 2016."

Whether Sam Allardyce is the man helping them spend that money is another matter. The 60-year-old is widely considered to have done a good job at Upton Park since taking over when they were in the Championship in 2011.

But a large section of fans have grown fed up of the former Newcastle United and Blackburn Rovers boss, with the club being linked to a host of managers from across Europe should Gold and Sullivan not renew his contract, which expires at the end of the season.

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