Edson Alvarez in last chance to secure permanent West Ham exit as £19.4m windfall could arrive

Edson Alvarez secured a summer move away from West Ham United, joining Fenerbahce on loan with an option to buy.

That option is set at £19.4million, a fee the Hammers will likely want to recoup for the 28-year-old.

Despite the agreement, the future of Alvarez remains incredibly uncertain, with the Turkish club’s decision still not entirely clear.

For the player, he will want to know where his future lies, and doing so may depend on his performances for the rest of the season.

With a transfer away from West Ham in doubt, Alvarez is now primed for one final audition for Fenerbahce.

🚨 WEST HAM TRANSFER HUB 🚨

Breaking news on active deals, incoming signings, summer fire sale, and David Sullivan priorities.

The definitive source for West Ham United recruitment news

Why Edson Alvarez has one last chance at Fenerbahce

Alvarez sustained an ankle injury in February that has kept him out of action since, with surgery required to fix the issue.

The midfielder being sidelined for that long has put into doubt as to whether Fenerbahce will trigger the buy option in his loan deal.

CategoryValueContext
Purchase Price (2023)£32.7mGuaranteed fee from Ajax.
Contract LengthFive YearsSigned until June 2028.
Annual Amortization£6.54mGuaranteed fee divided by contract length
Total Amortization (by 2026)£19.62m(23/24, 24/25, 25/26)
Book Value (2026)£13.08mRemaining value on the books.
Possible Sale Price£19.40mFenerbahce buy option
Accounting Profit Made£6.32mBook profit if buy option activated

However, according to Mexican outlet, Ovaciones, the Hammers loanee is close to a return from injury, having received treatment with the Mexico national side over the international break.

Although no return has been mentioned, the report states: “The midfielder will seek to be a fundamental part of his team in the final stretch of the season.”

The move to Turkey has not exactly gone to plan for the 28-year-old, who has started just ten games this season for the Istanbul side.

With that lack of involvement, Fenerbahce may be turned off from activating their buy option for the West Ham star.

Fenerbahce had looked into lowering the fee to purchase Alvarez, with those advances ultimately rejected by the E20 outfit.

Edson Alvarez' appearances for Fenerbahce so far
Credit: Breaking Media

But, with a return close, Alvarez could tempt the Turkish giants yet with a strong end to the season. The Yellow Canaries still have a chance to win the league title and are also still in the Turkish Cup.

If the Mexico international can be a key player and bring both those titles back to Istanbul, he may very well remain in Turkey.

Could Alvarez have a future under Nuno Espirito Santo?

It remains to be seen as to whether Alvarez could be an option for Nuno Espirito Santo next season if West Ham stay up.

However, the Portuguese manager did have the option of recalling him in January, and the fact he decided against it may be an inkling into his feelings.

Last season, Alvarez struggled to impress under Graham Potter, and questions around his ability to play in the Premier League may linger on the manager’s mind.

Edson Alvarez's Premier League stats for West Ham last season.
Credit: Imago

Overall, it seems that the Mexican’s time at the Irons may be ending no matter what.

Whether that is by completing a permanent move to Fenerbahce or West Ham agreeing to sell him elsewhere is an answer that fans will have to wait for.