Eyebrows raised over West Ham accounts delay as Companies House deadline nears
West Ham’s board of directors are taking longer than usual to submit their accounts ahead of the February deadline.
David Sullivan and Karren Brady have come under fire multiple times over recent months for their wrongdoings at the London Stadium, and supporters will be hoping more mistakes don’t follow.
The Hammers have until 28 February to submit their official accounts to Companies House, which contain important details such as profits and losses, with a balance sheet and cash flow statement.
As highlighted by Kieran Maguire on X this Friday, Sullivan and Co. have usually submitted this to Companies House well before the typical February deadline.
With just days left of February, West Ham fans will be wondering what the delay is all about, as Maguire has questioned why this has happened.
- Read more: West Ham points deduction update emerges as PSR figures shown after conclusion of winter window
What could West Ham accounts delay be over?
The Hammers had a busy month of winter dealings, with multiple players coming to E20 as well as plenty leaving.
This will have caused lots of instalment structures to be in place for incoming and outgoing transfers, which could mean that final valuations are taking longer than usual.
Not only that, but audit checks could still be in the process of being finalised, but there is understandable worry about the situation.
- Clubs can be granted extensions, but usually under certain circumstances like administration
- PSR compliance checks can cause for delays
Cash flow reviews often take up a lot of time, which includes owner funding checks and debt level assessments.
However, it’s not unusual for clubs to wait close to the deadline for reasons such as board agreements over approvals and investment decisions.
- Read more: David Sullivan to strengthen grip on West Ham ownership as £750m Premier League news emerges
The huge gamble that David Sullivan has already made
West Ham are running a real risk of waiting too long to submit their accounts, but it’s no surprise that things are taking longer than usual after the winter window seen at London Stadium this season.
But what was spent last month also poses a major threat, because Sullivan went all out to land Nuno Espirito Santo, his main targets amid a battle for Premier League survival.
The West Ham owner already knows that his pockets will be ripped wide open should the Irons drop to the Championship, and he took arguably the biggest gamble of his tenure in the winter.
The likes of Taty Castellanos, Pablo, and Adama Traore didn’t come cheaply and will be paid handsomely over the course of their contracts with the Hammers.
However, if relegation becomes a reality, Sullivan will again need to cut losses, in a time when the Hammers’ business is simply not sustainable.
For more expert analysis and news on West Ham United, check out Football Insider for the latest financial updates.