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West Ham would take harder hit from relegation

Spurs’ plight has gripped football fans this season. But it has also overshadowed the troubles over at West Ham, who will be relegated if they fail to beat Leeds. West Ham are — by several measures — a big club. The east Londoners rank 20th in the Deloitte Money League, just four spots behind Italian giants Juventus. The club has spent more on transfers in the past five years (€815mn) than Aston Villa, Bayern Munich or Atlético Madrid, while the team’s home ground, the London Stadium, is the second largest in English club football.

Relegation would hit West Ham’s finances far more severely than Spurs. TV money, which drops precipitously upon exiting the Premier League, accounts for 57 per cent of West Ham’s revenue, compared to just 29 per cent at Spurs.

West Ham also have a leadership vacuum. The club’s split ownership — with no single party holding a majority stake — was held together for years by chair Karren Brady. Such a system can work, as seen at Crystal Palace, where Steve Parish is the ultimate decision maker despite only owning a small slice of the club. Brady announced last month she’d be leaving West Ham. Karim Virani, named as the club’s “interim chief executive”, is likely to have a very busy summer.
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