West Ham have revealed record profits following their move from Upton Park to the London Stadium in 2016/17.
However, it has become apparent that the figures would be no different, had the club chosen to stay at the Boleyn Ground.
It was thought that the move to the former Olympic stadium would boost the club’s financial muscle and put them in a position to compete for European football.
However, a large percentage of the profit came from the new TV deal which equates to £119.3m and £28.4m on player sales – added to a year on year slide down the table and their reasoning for backing a move looks questionable.
And a comment from the club accounts, as quoted in the Daily Mail reads: ”It is worth noting that the club would have made a similar profit had it remained at the old stadium.”
Irons co-chairman David Sullivan also stated in the Daily Mail that following the financial revelation, investments would be made in the summer: “The club is in the healthiest financial position it has been in for years.
“In each of the last two seasons we have broken our transfer record and improvements in our overall financial position will help us to increase investment again this summer.
“I know some of our supporters will argue we have not spent enough in the transfer windows and signed the right targets – I accept that. I have explained in recent weeks we are changing the structure of our scouting and recruitment set-up and will make every effort to improve our performance in those areas in the future.”
Football Insider verdict:
And there is all the evidence the Hammers faithful will need to jump on in order to urge the club’s hierarchy to exit. The move to the London Stadium was never a popular one for those associated with the Irons. But they were sold the dream of European football as one that could only ever be realised if they left their spiritual home. This all now looks rather farfetched given their dismal league position and the board unwilling to part with their cash.
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