West Ham handed near seven-figure financial boost after ripping up Winston Reid contract
West Ham will have reportedly saved around £1million after agreeing to a compensation with defender Winston Reid.
On Tuesday, the Hammers announced that they had reached an agreement with Reid to terminate his contract at the club and allow him to pursue his football elsewhere.
According to Claret and Hugh, West Ham were entitled to pay around £6.5million compensation in terms of wages, assuming that he drew £70,000 per week at the London Stadium.
However, they have reached an agreement that would see the club paying a figure in the region of £5.5 million ensuring that around £1million has been saved.
Good move
Reid was unlikely to establish himself as a first-team regular at the club so it made sense for his contract to be terminated.
He also had some major injury concerns which would most probably see his impact diminishing on the field.
With the Hammers aiming for back-to-back top six finishes, they couldn't afford to be sentimental.
One could see the emotional upside of keeping a player who's been at the club for over a decade.
However, they took the tough decision and terminated his contract outside of a transfer window.
Reid performed fairly well at Brentford on loan last season so maybe he could consider a switch to a Championship club.
If he prefers a return to his country then a club in the A-League would certainly benefit from his experiences of playing in the Premier League.
In other West Ham news, the club are set to offer new deal to 'Popular' player who's been tipped for greatness