West Ham publish 23/24 accounts, reports football finance guru Kieran Maguire. Revenue £270m up 14%. Wages £161m up 18%. Average weekly wage £74,800. Underlying losses were £30m up 146 per cent. Player sale profits £96m up 467%. Profit before tax was £57m. Player purchases £124m. Player sales £142m. Borrowings £1m.
Income increased due to more matches on back of European success leading to bonuses from sponsors and higher merch sales. Matchday income works out as £1 in every £6 generated by the club, so Maguire comments that it seems harsh to be targeting senior fans and concessions as broadcast income was £167 million.
Only a few clubs have published 23/24 accounts to date but West Ham at the top
of the 'Other 14' although may be overtaken by Villa and/or Newcastle.
Main costs for clubs are player based. Euro bonuses were
main driver of first significant wage rise for a few years. Wages were well
within the UEFA red line of 70% of revenue.
Highest paid director had a 6% increase to £1.43m. Name not
given but likely to be chief exec Karren 'Kazza' Brady, part time director,
full time delayer of the football governance bill in the House Of Lords.
Director pay varies wildly in PL, some do it for money, some appear to do it
for love.
Other main player cost is transfer fee amortisation
(transfer fees spread over contract life) which had a 28% increase due to
investment in players. West Ham rent on Lomdon Stadiyum increased to just under
£4m
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