David Sullivan has admitted West Ham’s finances are the worst of any club in the country, and revealed that the owners will have to pay £40million from their own fortunes to keep the club afloat if they're relegated.
The Hammers are three points adrift at the bottom of the Premier League, and look like they're almost certainly heading down to the Championship.
West Ham are already £80m in debt, and Sullivan said: '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 secures 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-£40m, depending on circumstances, which will probably never be repaid. 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.'
During their 16 years as co-owners of Birmingham, Sullivan and West Ham co-owner David Gold endured their problems, but as Hammers fans this is their most painful season yet.
'We’re not down yet but I admit it’s not looking good,' said Sullivan. 'I’ve been relegated three times before, on every occasion gaining automatic promotion the following season but this one will hurt me the most if it happens.
'David and I have taken criticism and, should we be relegated, will accept the responsibility.'
West Ham drew 1-1 at Blackburn, which nearly sealed their fate. Sullivan said: 'The support for the team on Saturday was magnificent, the best we’ve seen since we’ve been at the club.'
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