Revealed: West Ham stand to lose £37m in devastating blow
West Ham face the startling prospect of losing £37million if the season is ended prematurely, Football Insider can reveal.
The club announced a whopping £28m loss in their most recent set of financial results despite turnover increasing £15m to £191m.
The possibility that the Coronavirus pandemic could lead to the season being voided and no more home matches at the London Stadium in 2019-20 would lead to an even bigger deficit for the current campaign.
Analysis by Football Insider has shown that West Ham would lose around £37m from the combination of incomes losses from broadcasting, matchday and commercial revenue.
The biggest hit would be from the £25m loss of TV cash, although there would also be a deficit of £6m from their remaining home matches as well as a potential £6m from commercial and merchandising.
Vice-chair Karren Brady recently back-tracked after initially claiming the season should be voided, which was widely criticised as a self-serving claim to merely preserve West Ham’s precarious Premier League status.
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That would keep the Premier League cash rolling in next season, but would mean a massive financial hit right now.
West Ham’s £28m loss is the highest since the £37m reported in 2008, though that was inflated by £26m exceptional expenses for a breach of Premier League rules in transfers of Carlos Tevez and Javier Mascherano.
Before last season they had been profitable in four of the last five years.
Premier League clubs are facing a combined bill of around £750m if the season ended now.
The ruling body announced last Friday that their previous intention to resume the campaign on 30 April has now been pushed back indefinitely as the coronavirus pandemic wreaks havoc to the football calendar.
In other West Ham new, it can be REVEALED that the club are willing to let big name go for nothing after talks.