West Ham made a loss of £5 million from the final season at the Boleyn Ground. There's a good round-up of all the Premier League clubs' accounts from David Conn in the Guardian. In 2015-16 West Ham's turnover was £142 million, while the wage bill was £85 million, the joint eighth highest in the division (the club finished seventh so slightly overachieved). Wages as a percentage of turnover were a fairly sustainable 60% however, which is better than 14 other clubs in the league. A £31 million bank loan taken out in 2013 has been paid off and the club has debts of £67 million, most of which is owed to David Sullivan and David Gold.
The finances of the club are looking much healthier than in the Eggert years and it could be a lot worse when you consider that in the same season Sunderland lost £33 million and Aston Villa a whopping £81 million. The accounts for the first season at the London Stadium should show a huge increase in turnover and match receipts, so it will be interesting to see just how rich we've become. Click on the link to read the full article.
4 comments:
Although it is disappointing that to learn that we lost money in the last season at the Boleyn but from what I can gather from the article the horrendous debt that nearly sank us after the Icelandic fiasco, now seems to be very much under control.
Sorry,
Forgot to say, is the monies owed by the club to the owners in the form of loans, the only outstanding debt we haven't? I understand that we had to clear our debts before the move as we couldn't mortgage it against the London stadium as we don't own it. But have for example, the money owed to the Icelandic banks for example been repaid?
David Conn's comments suggest that £49m loans plus £12m interest of the £67m debt is owed to Sullivan and Gold now… if you click on the link to the piece it has his comments and he normally knows his stuff.
So I'd assume the Icelandic debts have been paid and perhaps we have income to come rom the sale of the Boleyn too...
Post a Comment