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2013-08-26T08:00:00 Updated 2015-02-19T00:08:46

West Ham United statement

With one week to go until the summer transfer window comes to a close, the West Ham United Board and manager Sam Allardyce are continuing to work hard on identifying talent to strengthen the first-team squad. However, as has been made clear by the Joint-Chairmen and manager, the Club cannot exceed the wage limit set by the new Premier League financial regulations, which came in to force this season.

The new rules state that whatever a Club spent on wages last season, they are allowed to do so again, with an allowance for an extra £4m on top. If they did not spend £48m on wages last year, as was the case with West Ham United, they are allowed to go up to a new £52m limit. With five key signings already made this summer - including two England internationals - the Hammers are now close to that limit, as Joint-Chairman David Sullivan explains.

Mr Sullivan said: "Sam and I are working tirelessly on identifying new targets to add to what has been a very good window for West Ham United thus far. However, the new rules state that if a team exceeds the new wage limit they could be hit with a points deduction. As we are now close to that limit, players can only be brought in if there is money left in the wage budget, meaning any new signings at West Ham are dependent on other players leaving the Club.

"I have seen the suggestion that we should just give away or sell a few fringe players to free up the wages but I must stress this is easier said than done and despite our hard work over the summer, it just hasn't been possible yet.

"I'm hopeful that things will change over the last seven days of the window and I can assure fans that we will be working hard - right until the last minute if needs be - to make sure we give West Ham United the best chance possible of topping last season's tenth-placed finish."

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