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West Ham move into profit

West Ham 21/22 accounts published, figures show income up £60m to a record £253m, reports Kieran Maguire. Wages up £7m. Operating profit £21m compared to loss of £26m. Transfer spend £64m. Borrowings down from £109m to £56m.

Total revenue increased by 31% on strength of matches in front of fans and higher league position.  Matchday income was at a record £41m, partly due to increased capacity at the London Stadium. West Ham's total revenue increase now makes them the highest income club outside of the top six.

Broadcast income similar to previous financial year, when there were 44 Premier League games on back of Covid. Higher league position meant bigger merit payments & Europa League contributed too. Commercial income record £48m, up 64% on previous season.

Major costs for clubs are player related. Wages kept relatively steady and have not increased since 2017. Wages are now just £54 for every £100 of income, well below the UEFA red flag level of £70.

As a result of higher income and good cost control, West Ham made a day to day profit of £21m, the first profit since 2016/17.  Profits can be increased by player sales, but these were insignificant in 21/22. West Ham bought players for £64m and had sales of £3m in 2021/22.   Since 31 May 2022 West Ham have spent a net £155m on new signings with a potential £18m of add-ons on these deals.

Interest costs on loans decreased, partly due to loans to Gold and Sullivan being repaid in the year when Daniel Kretinsky bought part of the club and put in £125m. Total interest earned by the two Davids for their loans was £23.3m.



 

 

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