West Ham have Declan Rice to thank amid £57.2m reveal today
West Ham United sold Declan Rice one-and-a-half years ago but are still benefitting from it.
Arsenal forked out £105million to acquire the England international’s services from the Hammers in the summer of 2023, thus making it the biggest sale in the club’s history [Sky Sports].
Rice’s departure left a massive void in the Irons’ midfield, but there is no doubt that the transfer did a world of good to the East London outfit.
If that was ever in doubt, West Ham’s latest finacial reports drives the point home once again.
Declan Rice and Arsenal contribute to West Ham finances
The Hammers released their financial results for the year ending 31 May 2024 on Monday, 30 December.
In one of the biggest takeaways of the report, the David Sullivan-owned club revealed that their net profit before tax is £57.2million.
They do not shy away from admitting that Rice’s sale was one of the biggest reasons for the same, while also highlighting him as a “product of the Academy of Football”.
Since the midfielder came through the ranks in East London, the money from his transfer counts as pure profit on the Irons’ books.
Therefore, it would not be a stretch to say that West Ham would have been operating on a loss had it not been for Rice’s transfer to Arsenal last year.
There is no doubt that the sum also enabled Tim Steidten and Julen Lopetegui to spend over £100m in the last summer transfer window [TBR Football].
Meanwhile, David Moyes also deserve some credit for leading the side to UEFA Europa Conference League glory last year, boosting the finances further.
In other West Ham news, Tony Cottee has been raging over a new decision from the Irons board.
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