BBC Sport reporter shares £184m West Ham United response after financial figures released
BBC Sport reporter Simon Stone has broken down the numbers after West Ham released their financial figures for 2022-23.
The Hammers published the full financial details for the year ending 31 May 2023, which covers the purchases of the likes of Lucas Paqueta, Emerson Palmieri, Nayef Aguerd and Alphonse Areola.
Stone took to Twitter on Friday (29 December) to outline the key developments, with those signings contributing towards a pre-tax loss of £18.3million.
“Latest @WestHam financial statement to 31 May, 2023 show pre-tax loss of £18.3m,” Stone tweeted.
“Turnover fell to £236.66m, down £16m on the previous season, with wages rising to £136.84m.
“Club say an outlay on players of £184m over the period in question was part of the reason for the loss.”
Year to remember
West Ham are quick to point out in the club statement that, while a loss was recorded, a record sum of money was pumped into the playing squad over this 12-month period.
It contributed to a very successful 2022-23 campaign, of course, which culminated in June’s Europa Conference League triumph – a night supporters will never forget.
Incidentally, the prize money for winning that competition will not appear until the 2023-24 financial results are released this time next year as the competition concluded after the 31 May cut-off date.
Those figures will also make for interesting reading on the back of selling Declan Rice for a nine-figure sum, which ultimately was invested back into the squad.
As majority shareholder David Sullivan said: “The future continues to look extremely bright for West Ham United”.
The Hammers, despite this small loss, appear to be in a steady decent financial position now and are performing well on the field. Fingers crossed it remains that way for as long as possible.
In other West Ham news, two BBC Sport pundits are clear what United should do next with manager David Moyes.