West Ham smash club record as paperwork finalised
West Ham increased their revenue by £33million last season following the release of their latest accounts, sources have told Football Insider.
The east London club published their accounts for 2023-24 on Monday (30 December), revealing their turnover rose from £236.7million in 2022-23 to a club-record £269.8million.
That was driven by their improved position in the Premier League, having finished ninth in David Moyes’s last season at the London Stadium, as well as higher European income and a £19.4million increase in broadcast revenue to £167million.
West Ham’s matchday revenue grew by £3.7million to £44.6million, while their commercial income was £6.8million higher than 2022-23 at £41.9million.
The London side also managed to go from making a £17.1million loss in 2022-23 to last season recording a £57.2million net profit, which was largely driven by the £105million sale of Declan Rice to Arsenal.
But West Ham’s wage bill surged from £136.9million to £161million following some big-name signings across the campaign.
Mohammed Kudus, Edson Alvarez, Konstantinos Mavropanos, James Ward-Prowse and Andy Irving joined on permanent deals for a combined £124million, while Kalvin Phillips spent the second half of the season on loan at the London Stadium.
West Ham backed Julen Lopetegui following financial success
Following the release of the latest accounts, West Ham’s majority shareholder David Sullivan said the club are on a “firm and robust financial footing” giving them a “strong platform to continue progressing”.
There has been plenty of change since Moyes’s time in east London came to an end following the conclusion of last season, with Julen Lopetegui appointed as his successor.
The Spaniard was heavily backed by the club’s hierarchy in the summer transfer window after spending more than £120million on nine new additions.
But it’s been a tough start to life at the London Stadium for the 58-year-old after losing eight of his opening 19 Premier League games, leaving his side sitting 13th in the table.
Football Insider revealed on 31 December Lopetegui is under growing sack pressure following the 5-0 defeat against Liverpool on 29 December.
It is understood West Ham chiefs will demand an improvement in performances and style or they will be prepared to relieve him of his duties.
In other news, West Ham will accept “huge Arsenal offer for Mohammed Kudus”.
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