West Ham say they are in talks with potential new sponsors after current backer Alpari UK went bust.
The foreign exchange broker’s clients racked up huge losses in the wake of Switzerland’s shock move to abandon the country’s peg to the euro.
The company said the decision to remove the currency floor resulted in the majority of clients sustaining losses which exceeded their account equity.
Alpari said on Friday: ”Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today that it has entered into insolvency.”
But in a statement of their own, West Ham said they would not be affected by the company’s collapse.
“West Ham United has enjoyed a good working relationship with Alpari (UK) Limited since 2011 and is therefore saddened by today’s news that it has entered into insolvency. The club would like to offer its sympathies to any Alpari staff affected by the announcement, particularly those that have worked closely with us over the past few years,” the said.
“The board would like to reassure supporters that Alpari (UK) Limited’s situation will have no impact on West Ham United. The Club remains in a strong financial position and just last month published accounts showing record revenues and a group profit of £10.3m before tax.
“The club has received huge interest and is already in advanced discussions with potential new shirt sponsors for next year.”