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Many spoke of West Ham’s relegation to the Championship in apocalyptic terms. The break-up of the first team, financial misery and a return to the Premier League being far from certain. Clearly, there have been ramifications to West Ham United’s recent demise, but the alarmists seem to be mainly rivals keen to kick a club when they’re down. The reality is, and will likely continue to be, quite different from what some doom-mongers would have you believe. So why is West Ham still such a compelling destination for players? Whilst relegation will force a much-needed restructuring across the club, let’s not pretend for one moment that this is a rosy situation for the Hammers. The summer has been defined by outgoings, with Mateus Fernandes leaving for bitter rivals Spurs in an £85m deal, and Crysencio Summerville also departing for Al-Hilal in a deal estimated to be worth £50-60m. Nine first-team players were also released on free transfers, including Callum Wilson, who turned down a new contract to join Brentford instead, and long-serving goalkeeper Lukasz Fabianski, who is retiring. West Ham’s London Stadium is now the largest Championship ground (Photo by Thomas Dahlstrøm Nielsen CC) Amid all that outgoing business, captain Jarrod Bowen is likely to be staying for at least another season — doing so, like every other player who remains, under contracts that reportedly trigger reduced wages while in the Championship. Bowen and Tomáš Souček both have a genuine opportunity to write themselves into club history and further endear themselves to the fans if they can help West Ham bounce straight back up. In terms of incomings, Joël Veltman arrived on a free transfer from Brighton, bringing Premier League and international experience to the back line, while Manor Solomon joined from Tottenham for £5m plus £2m in add-ons. The headline signing came on August 15, when West Ham paid £22m for Celtic’s Arne Engels — a fee that broke the Championship transfer record outright and left many opposing fans questioning why the attraction? There are a number of compelling reasons to join West Ham even in their current state. Firstly, and it pains Celtic fans to acknowledge given their own situation, West Ham are still an affluent club capable of paying wages that will attract quality players. Unsurprisingly, the estimated £80m that West Ham project to spend on wages next term is the highest in the Championship and more than double the £30m estimated outlay that Celtic expect to spend on wages. The Hammers can still out-muscle European clubs on wages because the Championship’s wealth, combined with the impact of parachute payments, means the club retains significant financial power to attract players. In Engels’ case, he is expected to earn more at West Ham than he did at Celtic. The payments to West Ham are a declining, three-year share of Premier League broadcast revenue designed to soften the drop. In year one, West Ham are set to receive around £55m, alongside fellow relegated clubs Wolves and Burnley, dropping to roughly 40-45% of that figure in year two and around 20% in year three, assuming they aren’t promoted back before then. This is a genuine structural head start that helps explain why West Ham remain financially competitive — and attractive to players — even outside the Premier League. But there is more to the situation than just money. West Ham are a huge club, with a loyal fanbase and the attraction of playing in a modern stadium in the capital city. Opposition fans may enjoy belittling West Ham for a perceived lack of achievement on the field in modern times, but the size of the fanbase reflects that of a club capable of enjoying significant support even outside the top flight. The London Stadium is set to dwarf other grounds in the Championship A record-breaking crowd of over 53,000 for a first-round League Cup tie earlier this month underlined the fact that West Ham remains a hugely well-supported football club. For many players, the opportunity to play in front of that many fans regularly in London, while retaining a realistic hope of securing Premier League football the following season, makes the attraction obvious. Ultimately, relegation has undoubtedly weakened West Ham, but it has not stripped the club of its biggest assets. Financial muscle, a huge fanbase, Premier League-level infrastructure and the realistic prospect of an immediate return mean the Hammers remain an attractive proposition. Arne Engels’ decision is therefore less surprising than some may think — West Ham may be down, but they are certainly not out.