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