West Ham’s newly announced financial accounts for the 2019/2020 season were released today which show a record turnover of £190.7m however, the club posted a big loss of £28.2m when player trading was factored in.
The main areas show:
O Turnover dropped £51.2m (26.8%) from £190.7m to £139.5m
O TV income fell by £45m (35.3%) from £127.4m to £82.5m
O Ticket income fell by £4.9m (17%) from £27.4m to £22.5m
O Commercial and sponsorship including corporate hospitality fell by £1.5m (4.6%) from £27.4m to £25.9m
O Retail and shop sales fell by £200,000 £8.7m to £8.5m
O The club published a loss of £65m an increase of 132.3% on the £28m lost from the previous 2018/2019 season
O Wages reduced by £5m (3.7%) from £135.8m to £130.8m which represented 94% of turnover
The highest-paid director wages (believed to be West Ham Vice-Chairman Karren Brady) reduced her salary by (9.6%) from £1.13m to £1.02m
West Ham repaid a loan of £63.5m to Media Rights and Funding on 3rd August 2020 taking out a new loan worth £55m repayable in July 2021.
The latest account can be read HERE
Doesn’t seem to bad, from the outside.
94% of turnover in wages! ⊂(⊙д⊙)つ
you’d imagine this has been cut further in the meantime, considering the players on big wages that have left since.