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Profit into loss at West Ham

West Ham have announced their financial results for 2017/18. Decreased income and higher costs meant that West Ham went from a profit excluding one off items of £11 million to a loss of more than £6 million.

Matchday income for 2017/18 lower than the final season at the Boleyn (although that season included special events which boosted income). West Ham commercial income was also down as tensions between club and fans over failures at new stadium made the club less popular with sponsors.

Despite a decrease in income of four per cent overall, wages continue to rise, and have more than doubled since 2013. West Ham paid out £60 in wages for every £100 in income, compared to £52 the previous season.

Since the end of May West Ham spent £89 million on new players, borrowed £23 million which will be repaid from TV money and paid Gold and Sullivan £4.5 million cash interest at 4.25% interest.

Net player trading cost £3.1 million in 2017/18. West Ham borrowings fell from £75m to £64m in 2017/18.

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