West Ham United co-owner David Sullivan: This club is in a worse financial position than any other in the country

David Sullivan (Getty Images)

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West Ham United co-owner David Sullivan admits that if the club is relegated then it could cost him and his business partner David Gold up to £40 million to keep the Hammers afloat.

The pair took over the club in January 2009 and were hoping that the team could kick on from their average season last term in which they narrowly avoided relegation.

However, they have been relegation candidates all season and sit four points from safety with just two games to go.

Sullivan says that if the Hammers are relegated then they would be forced to pay up £40m to ensure their survival.

He told the London Evening Standard: “The fans should know though this club is in a worse financial position than any other in the country.

“All the debts are football or bank debts secured on the stadium and training ground, so there is no route via administration.

“West Ham really is a club where the football and bank debts exceed the value of the club.

“It’s a pretty thankless task and the criticism hurts. Should the worst happen, we will have to inject loans of £20-£40million, depending on circumstances, which will probably never be repaid.”

Sullivan also feels that criticism levelled at him and Gold is unfair, adding: “I don’t believe the supporters realise the potential real cost to us.

“Nobody out there wants to take on the burden of West Ham United.

“We do, as we are supporters but our resources don’t match foreign-based oligarchs who pay no UK tax.”