West Ham have reported a net loss before tax of £26.9 million, the club have confirmed on their official website.
The financial results for the year ending 31 May 2021 show that the Hammers have spent around £79.5m on the first-team squad as player cash investment during the year.
West Ham’s net debt has fallen by £15.8m, while the shareholders also injected £30m of new equity into the club.
Football clubs all over the world have gone through a challenging phase due to the Covid-19 and West Ham are no exceptions. The net loss was mainly due to low match-day and commercial income.
After the Project Restart, the games were played without fans in the stadium. It has impacted the finances heavily.
At the same time, there is an upsurge in turnover, driven by broadcast income. Also, the Hammers finished sixth in the Premier League last season and qualified for the Europa League, which has further boosted the revenue.
Despite difficult times, the future looks bright for the Hammers. The new shareholder, Daniel Kretinsky, will be expected to pump in money to make the squad even better, while the club should be aiming to finish better than last season.
The Hammers are likely to challenge for the fourth spot this season, and David Moyes should be backed in the January window to achieve their target.
In other West Ham news, an amazing attacker is making personal arrangements for Hammers switch in January.
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