Kieran Maguire: West Ham have ‘turned things around’ as £60m boom revealed
West Ham “turned things around” financially in 2021-22 as the return of matchday income and another excellent league position led to record turnover.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Hammers’ recently released accounts for the season.
It was announced last Friday (30 December) that West Ham had recorded a profit of £12.3million on club-record revenue of £252.7m.
That figure, which came as David Moyes’ side finished 7th in the Premier League and reached the semi-finals of the Europa League, represents an upswing of £60m on the previous campaign.
The 2021-22 season was the Irons’ first in front of capacity crowds since the outbreak of the pandemic.
Maguire analysed the numbers and explained why West Ham have managed to steady the ship after four seasons of successive financial losses.
“They have had the benefit of a full season at the London Stadium,” he told Football Insider’s Adam Williams.
“That wasn’t the case the previous campaign because of the effects of the pandemic lockdowns, which completely took away that revenues stream.
“They had a very good league position which has impacted the prize money they have received from the Premier League.
“When you put those two together, it’s been one of their most successful years in recent times. They have lost money for the last four years and turned things around in 2021-22.
“How that money is going to be spent is a different issue, of course.“
In other news, David Moyes edges closer to West Ham sack as board ready to act.