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Leave vote will cost us, admits Sullivan

Filed: Friday, 24th June 2016
By: Staff Writer

David Sullivan has admitted that the result of the EU Referundum is likely to affect the club negatively.

Last Thursday the UK voted to leave the European Union. And according to West Ham United's co-owner, should the pound continue to fall in value any transfer deals involving European players could be adversely affected.

"There are going to be a lot of implications for the Premier League and football in general," said Sullivan on whufc.com. "If sterling continues to fall against the euro, players at European clubs will become more expensive so that impacts our buying power.

"Even at this present time, where we currently owe instalments to clubs who we have signed players from, we will also lose out if the value of sterling falls, but every club is in the same boat.

"I have seen reports that some big name players including Dimitri Payet would not have been able to secure their moves into the Premier League if we would have already left the European Union.

"[In the] long term players from the European Union will need to obtain work permits, but I have to stress that is a few years away."

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