West Ham made a financial loss last season

Owner’s son Jack Sullivan appears to have revealed that West Ham made a financial loss of £5m last season, if the information true it comes after two years of profits which were then used to pay down some of the bank debts. Among other financial figures he confirms the Boleyn Ground was sold to property developers Galliard for £38m, the London Stadium brings in an additional £12m of revenue per year and we paid off another £11m of bank debt before the West Ham financial year ended in May this year.

Young Sullivan released the financial details on twitter after receiving abuse on the social media platform for stating the club was still £100m in debt. Claret and Hugh ran an article updating and explaining the debt situation  yesterday which can be found HERE

Jack wrote on his personal twitter account followed by over 70,000 followers “Debt is still £90/£100m, if things go according to plan we can pay it off within 3 years, This is because most of the income transfers, wages and agents. The pound fall against the Euro and dollar has cost us several million pounds on what we owe on transfers from foreign clubs as we and all clubs pay over 24/36 months. The OS brings in £12m more than Upton Park due to family affordable football. We sold Upton Park for £38m, £15m was contribution towards conversion of OS, £8m for building out the shell of shop, offices, making the stadium have the look and feel of WHU (seats/signs etc) £5m covered the loss of season 2015/2016. £11m went towards debt”