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West Ham post record financial results

money_in_footballBy Sean Whetstone – CandH associate editor

West Ham’s newly announced financial accounts show increases in all areas as the club continues on a big upward curve.

The main areas show:

O a turnover increase of  17.7% to £142.1m and within that ticket sales for the last season at the Boleyn Ground rose to £26.9m

O TV income grew to £86.7m

O Commercial and sponsorship sales was up by 31% to £19m

O and retail and shop sales grew by 29% to £9.3m.

Pleasingly, the club  managed to record a modest profit of £1.2m before taxation but this was record a £4.8m loss on the books when other factors where included after spending £53.3m on bringing in new players – which saw us take on a  total wage bill £84.7m – and investing £4m in Rush Green training ground. A further £45.7m was spent on players during the 2016/2017 season so far the accounts claim.

The external bank loans were paid off in July 2016 following the sale of the Boleyn Ground with the accounts claiming an £8m profit in the sale.

The club paid their £30m pay day loan to JG Funding in May 2016 but took out a new one with Media Rights and Funding for £30m in August 2016 secured against future TV income.

In further articles later today we will update you at West Ham’s debt situation, directors salaries and repayment of shareholder loans.

 

About Sean Whetstone

I am Season Ticket Holder in West stand lower at the London Stadium and before that, I used to stand in the Sir Trevor Brooking Lower Row R seat 159 in the Boleyn Ground and in the Eighties I stood on the terraces of the old South Bank. I am a presenter on the West Ham Podcast called MooreThanJustaPodcast.co.uk. A Blogger on WestHamTillIdie.com a member of the West Ham Supporters Advisory Board (SAB), Founder of a Youtube channel called Mr West Ham Football at http://www.youtube.com/MrWestHamFootball, I am also the associate editor here at Claret and Hugh. Life Long singer of bubbles! Come on you Irons! Follow me at @Westhamfootball on twitter

2 comments on “West Ham post record financial results

  1. I have no idea what that means other than to hope that the club’s finances are improving.

    Bottom line what the fans are really interested in:

    Ticket prices and spending on new players.

  2. Thats GOOD.Hopefully we’l try & invest some of it in a ‘CLOSER PITCH EXPERIENCE’ !
    Love WHU

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