David Moyes has hinted West Ham are being priced out of transfer moves this summer.
The arrival of Edson Alvarez on Thursday was the first signing the Hammers have made since winning the Europa Conference League in June after a frustrating period for the club.
Despite the British record sale of Declan Rice to Arsenal, frustration has been building at the lack of activity.
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"It’s not about us having £100million to spend, but the fees being charged by clubs for players,” he said.
“We sold Declan and I actually think Declan was quite cheap, to be honest. There is nearly not been a player we’ve gone for under £40million. We’ve been very active, as you all know, trying to get players in."
Alvarez does at least represent some progress, while Moyes could soon add two England internationals to his squad.
Harry Maguire is in talks over a severance package at Manchester United after they accepted a £30m offer, while James Ward-Prowse is applying the finishing touches to his £30m move from Southampton.
"We’ve had a bit accepted from Manchester United, but while he’s not our player I’m not in position to discuss him, really,” said the Scot of Maguire.
Moyes also confirmed Manchester City have lodged an offer for Lucas Paqueta but it fell short of West Ham’s valuation.
"We’ve had an offer from Manchester City, but at the moment it’s not anywhere near meeting our valuation,” he added.
