Credit: Imago

Jacob Raw

Thu 7 May 2026 15:28, UK

West Ham United are still flirting with the possibility of relegation, and dropping to the Championship would hurt David Sullivan’s pockets.

There are only three games left in the Premier League, as the Hammers currently occupy the final relegation spot, one point behind Tottenham.

The Irons have none other than the league leaders Arsenal next, in what could be the most important game of the season for both themselves and Spurs.

Nuno Espirito Santo is trying to remain calm on the surface of things, but Sullivan and Co. will be fully aware of the financial issues that loom.

West Ham published their accounts for the 2024-25 season not long ago, and the difference that could be seen in losses through relegation may be drastic, as suggested by Christian Purslow.

Christian Purslow predicts West Ham for £90m to £100m losses

West Ham’s accounts showed huge losses for Sullivan, who then went out of his way to spend even more money this winter.

There have been changes behind the scenes at the London Stadium recently, but regardless, whoever is in charge of the Hammers upstairs will have a scary proposition if relegation happens.

• West Ham delayed the release of their accounts on Companies House
• Revenue was £227million

While speaking on The Football Boardroom this week, former Liverpool and Aston Villa CEO, Purslow, calculated what West Ham’s annual turnover losses could be should relegation occur.

Purslow said: “If they come third bottom, my estimates are, their TV income this year will be about £120m, which drops to about £55m in the Championship.

“Commercially, they probably get about a £12m to £15m line from front-of-shirt betting sponsors. They’d be lucky to get £1.5m in the Championship.

“Matchday, they do about £40m of matchday income [right now], that could be down to £20m or £15m. Add it all up, turnover drops by £90 to £100m.”

Tottenham only just recently won their first Premier League game of 2026, before following that up with a consecutive win against Aston Villa.

As things stand, West Ham are the favourites to take the last relegation spot, which will have big financial implications for the club’s turnover, as Purslow suggests a possible £100m loss.

David Sullivan more likely to sell up than ever

There was recently a change behind the scenes in E20 that seen Daniel Kretinsky take up a larger share of the club, with rumours about David Gold’s remaining stake being sold.

Kretinsky has taken more control of the club following Karren Brady’s exit, and this feels like another step towards Sullivan’s exit.

The West Ham fans want the majority owner to sell the club anyway, and the potential £100m may be the final straw for him.

Though West Ham could make money through the sales of Jarrod Bowen, Mateus Fernandes, and more, departures would need to be sanctioned at a loss for the likes of Taty Castellanos, Pablo, and even Adama Traore.

It’s not looking great for the Irons.