Finance Expert: Great news for West Ham United as Daniel Kretinsky profits soar in one company
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive West Ham United columnist. Each week he’ll be giving his views on the biggest talking points at the London Stadium...
Daniel Plumley has insisted that West Ham United will only benefit as Daniel Kretinsky saw his profits soar at Ballylumford Power Plant.
The Finance Expert admitted that clubs are still reliant on the boards’ wealth, with profits able to be pumped into new players, wages and infrastructure changes.
It comes after the Irish Times reported that Kretinsky has seen profits soar to €7.2million (£6.3million) at the Power Plant, which is part of the €25billion Energeticky a Prumyslovy Holdings, 94% owned by the Czech man.
“It’s always important,” he exclusively told West Ham Zone.
“We have to look at clubs and we know they’re still reliant on owners across the board, regardless of the club, West Ham’s finances are in good shape based on their recent set of accounts coming out of the pandemic.
“They’ve seen good growth in recent years, they’ve had European success and are building a good team, so there is a lot of positivity around the club.
“That is reflected in the finances, but they are still reliant on any owner or investor like every club is, and if the owners are doing well in their own businesses, then what you are looking at there is they’re more likely to invest in the football club, so you’re back full circle around investment in players, wages, infrastructure, academy, commercial and digital world.
“It always helps if the owners have businesses that are doing well as it benefits the football club.”
These are incredible numbers.
West Ham United are only going to keep benefiting the longer that Kretinsky’s profits continue to rise, something that looks relatively easy given the soaring price of energy.
With a full takeover on the cards, the longer his €25billion empire continues to grow, the easier it will become to pay out GSB and take the Irons even further with the money sitting there.
Long may this continue.