West Ham neglecting 'huge' income stream amid £27m reveal - Kieran Maguire
West Ham are failing to make the most of London’s football tourism despite earning £27million-a-year in matchday income.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about recent takeover developments at West Ham.
As per BBC Sport on 21st July, David Sullivan rejected an offer of £400m from a consortium fronted by ex-QPR chief executive Phillip Beard.
London Stadium bigwig Karren Brady’s website claims that the club is valued at double that figure.
Newcastle, another Premier League side in throes of a takeover saga, is worth £300m after a takeover bid from the Saudi PIF was accepted in 2020.
Maguire claims that the ‘London factor’ should give the Hammers the edge over Newcastle in terms of their respective values.
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But the spreadsheet expert asserts that West Ham have hamstrung themselves with the ticketing policy at the London Stadium.
He told Football Insider correspondent Adam Williams: “If you can buy Newcastle for £300m, what exactly are you getting for the extra £500m?
“You’re getting an extra 10,00 people turning up. But for all of their faults, the West Ham board have kept season ticket prices at the club relatively low.
“This means matchday income in a non-Covid season is within the region of £30m. That compares to £100m at Spurs and Arsenal.
“There is a financial gap on some of the other significant clubs in London.
“Under the normal circumstances of London being a huge tourist city, I would say that gives them an advantage over Newcastle.
“But if you take a look at West Ham, they have 54,000 season tickets. That leaves you with only about 3,000 matchday tickets. That’s not a lot for the tourists.“