West Ham United board make ‘severe’ 2023/24 relegation admission as new paperwork drops
The West Ham United board have admitted that they have considered a “severe” scenario should the Hammers be relegated in the 2023/24 season.
The board have written in their annual report and financial statements released on Friday (29 December) that they have considered a scenario which would see the Irons relegated from the Premier League, preparing the necessary adjustments to revenues and costs.
Should this “severe” incident occur some mitigating factors already put forward by those in charge include transfer fee receivables, potential player disposals to generate income, third-party financing and wage-saving measures.
If these mitigating factors were unable to generate the cash flow required, investors at the London Stadium have agreed with the board to provide the funding that would see West Ham meet their debts and remain within their borrowing limits for at least 12 months.
Good to be prepared
Given the recent good form at West Ham, it seems unlikely that these “severe” measures will have to be implemented at the London Stadium and David Moyes’ side seem to be heading upward this season and sit well clear of the relegation zone.
However, a lot can change quickly in the world of football and it is a testament to the work done behind the scenes at West Ham that the board are prepared for such a scenario, even if it does seem incredibly unlikely to occur anytime soon.
So often, teams relegated from the Premier League struggle to return because they are not prepared for the challenges that the Championship holds, but the Hammers seem equipped behind the scenes to bounce back if the worst happens.
Hopefully, this impressive run of form will continue for a little while longer yet and these measures won’t need to be implemented. But West Ham supporters can rest easy knowing that those in charge of their club are prepared for everything that could come their way this season.
In other West Ham news, Alphonse Areola was left stunned when he learned what one Sky Sports pundit had said about him