Various press articles have appeared referring to a recent announcement issued by "Whistle" which claims to represent a group of West Ham United shareholders.
The fact that this group should seek to destabilise the club at this crucial stage of the season is quite extraordinary in itself, the fact that it should do so by promulgating untrue allegations, rumour and speculation is even more so.
As a result the club has sought legal advice and will be commencing legal proceedings to protect itself from these allegations.
Many supporters have contacted the club alarmed at the disturbing press speculation asking for the position to be clarified, and this it did in a short statement on Monday made by Managing Director, Paul Aldridge when he dismissed reports in The Sunday Times, that the club "faces a financial crisis", as ludicrous and wildly inaccurate.
He said:
"The club's year end accounts will show a substantial reduction in debt. We have had an excellent relationship with Barclays for over 100 years and that relationship is stronger and better than ever - I'm afraid this is clearly just another alarmist story trying to de-stabilise the club at this very important stage of the season."
Barclays Bank has now issued its own press release to confirm that, contrary to the false statements which Whistle and, in particular, Mr Hanna are promulgating, its commitment to the club remains as strong as ever and that it is entirely satisfied with the way the club has conducted itself. Steve Walton, the Barclays Bank Relationship Director responsible for the club's account said:
"West Ham United is a long-standing client of Barclays. We have an excellent relationship with the company. As Paul Aldridge, West Ham United's Managing Director commented on Monday their finances are stable and their debt is in fact reducing. Refinancing is not on the agenda".
Chairman, Terence Brown, said:
"I wish to make the position absolutely clear. We do not have a financial crisis at West Ham United and have not had one at any time since our relegation. It is unacceptable that, at such a crucial time in our season, someone should seek to undermine all the hard work of Alan, the players and our staff by issuing information that contains so many lies simply to mislead and demoralise our fans who have given West Ham United such fantastic support throughout the season. We will be taking legal action against Mr Hanna and other members of the Whistle group to protect the club from these scurrilous allegations. May I urge every single fan to ignore this nonsense and back our boys in the remaining two League games and, hopefully, the play-offs. This is an unwarranted and unnecessary distraction"