West Ham planning £30 million rights issue to cover cost of coronavirus

6 April 2020

SG
Photo: PA Images Majority shareholder David Sullivan (front right) has already agreed to buy additional shares.

The club's stock will initially be offered to West Ham's existing shareholders.

Majority shareholder David Sullivan has already agreed to buy additional shares.

Emil Gjerding Nielson nielson@offthepitch.com

West Ham are planning to raise £30 million through a rights issue, according to the Guardian, to cover the continuing cost of the coronavirus pandemic, which has left football clubs without their primary sources of income.

European football has been suspended due to the crisis, many places indefinitely, meaning clubs are facing a prolonged period without their main sources of income from matchday revenue and broadcasting payments. 

Some clubs have placed non-playing staff on furlough or reduced their wages to make them eligible for the government's retention scheme.

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