West Ham United find themselves at the heart of a worrying financial projection surrounding the London Stadium, as reported by The Sun on Sunday.
According to the newspaper’s print edition (page 56, 12 January), E20 LLP, the stadium’s ownership group, has forecast a staggering £206.7 million in future losses, which is expected to be covered by taxpayers.
Rising costs, minimal returns
The report highlights that West Ham paid just £4.4 million in rent during the last season, a figure that falls significantly short of the £8.3 million required for maintenance and the installation of solar panels on the stadium’s roof.
Adding to the financial tensions, West Ham is embroiled in a legal dispute over a £4 million payment tied to their lease agreement. This payment became mandatory after Daniel Kretinsky acquired shares in the club.
Transfer business unaffected
Despite the alarming financial outlook, West Ham’s ability to back new manager Graham Potter in the transfer market should remain intact. The projected losses are to be absorbed by taxpayers rather than the club itself, meaning the Irons can still invest in strengthening their squad.
Potter, who recently replaced Julen Lopetegui, began his tenure on a difficult note with a controversial FA Cup third-round defeat to Aston Villa. However, with the team currently sitting 14th in the Premier League, ten points away from a European qualification spot, reinforcements are urgently needed.
Financial stability
West Ham’s potential financial strength in the transfer market is further underscored by recent figures. According to Swiss Ramble, the club posted one of the highest pre-tax profits for the 2023-24 season, behind only Manchester City and Brighton.
The ambition remains clear: to return to European competition after their UEFA Europa Conference League triumph in 2023. To achieve this, Potter will need adequate support in the January transfer window.
Upcoming transfer moves
In related news, West Ham is reportedly close to finalizing the signing of a promising defender from non-league, further highlighting their ongoing activity in the market. Photo by Sustain Health Magazine, Wikimedia commons.