David Sullivan must be celebrated amid £33m West Ham reveal
David Sullivan continues to divide opinion among the West Ham United fanbase, but there is reason to celebrate him this time.
As the Irons’ largest shareholder, Sullivan has the final say in everything related to the club and some of his decisions do not sit well with the supporters.
For example, it was the British businessman who insisted on hiring Julen Lopetegui as the East London outfit’s new head coach after he rescinded a contract offer to David Moyes [talkSPORT].
The same Sullivan is hesitant to pull the plug on the Spaniard as the Hammers continue to struggle in the Premier League [GiveMeSport].
However, there are some occasions that one needs to keep the difference of opinion aside and tip their hat to the joint-chairman and this is one.
David Sullivan genius emerges at West Ham amid 33m reveal
West Ham released their financial results for the year ending 31 May 2024 on Monday (30 December), announcing a £57.2million net profit before tax.
The report detailed the Premier League club’s turnover for the fiscal year stood at £267.9m, a significant £33m increase from last year.
At a time when several other rivals are operating at a loss, Sullivan’s side managed to post a profit in the last financial year.
While a lot of this is owed to Declan Rice’s £105m transfer to Arsenal [Sky Sports], Sullivan deserves credit for ensuring that the Irons’ finances are healthy and books are balanced.
While question marks remain over West Ham’s transfer business in the summer window, there is no doubt that they would not have been in a position to spend over £100m had it not been for the majority owner’s shrewd management.
Apart from the rise in matchday, commercial and corporate, and retail income, the Irons also repaid a £55m loan to Michael Dell’s MSD Holdings during the 2023-24 financial year.
They have set up a new overdraft facility with Barclays to replace the arrangement with MSD.
Everton were notably desperate to find a new owner to save from their financial plight after years of mismanagement until they found Dan Friedkin [BBC].
As a club operating at a similar level, it is not hard to imagine the Hammers going through a similar situation, but Sullivan has made sure that is not the case.
In other West Ham news, Graham Potter’s first signing as Irons boss has already been mooted.
For more West Ham news, follow us on Facebook or join our brand new WhatsApp channel for instant updates to be sent straight to your phone.