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West Ham hit hard by pandemic

West Ham United have announced their financial results for 2019/20 and the club was hit hard by the pandemic with turnover down by over £51m and a pre-tax loss of £63.5m: https://www.whufc.com/news/articles/2021/march/09-march/financial-results-201920-announced

There was a £25 million profit on player disposals – about double the previous year’s – with ex-striker Marko Arnautović sold to China in July 2019 for a hefty fee. The consolidated cashflow statement shows just over £88 million spent on players in 2019-20, with £53.4 million of proceeds from player sales.

The club has revealed that it has become the latest to accept financing from MSD, personal computer pioneer Michael Dell’s investment firm.

Less than two weeks ago, MSD provided a new £120 million five-year term loan. The club says its intention is to “draw down against the new loan” in order to repay two other facilities: a one-year £55 million facility expiring in July; and a £20 million overdraft facility with Barclays, agreed last October and also expiring in July. West Ham said the balance, once this was done, would be “available to cover cash shortfalls caused by the pandemic”.

Clubs across Europe have been hit hard by the pandemic, but it will be interesting to see  how West Ham's results compare with those of other Premier League clubs, not all of which are yet available.


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