Latest accounts

[Niblets]

WH Holding Ltd has today announced its financial results for the year ending 31 May 2025.The Club reports a net loss before tax of £104.2m, an adverse movement from the profit of £57.2m in 2023/24.

This loss was caused by our significantly lower profit on player sales and higher amortisation, our lower Premier League position, and not competing in Europe.Turnover was £227.6m, down £42.1m against last year, driven by no European income, our lower PL position and fewer live broadcast games.

The Club continues to comply with Financial Fair Play (FFP) rules, including PSR, and expects to do so in the future as the new Squad Cost Ratio (SCR) rules are introduced in the forthcoming years.

Click here to view West Ham United's 2024/25 financial results.

In short, we are absolutely fucked if we go down.

[Takashi Miike]

Firstly I'm not convinced this is quite as bad as many of the panic stricken bellends on here are stating, its not very good at all but nobody should be surprised at this. I'd wait for the commentary from people well versed in football finances before soaking my slacks, not youtubers or dickheads like you lot. 

Selling players was inevitable upon getting relegated, again why are we surprised at this 'news'? If we stay up by some minor miracle then we have enough assets to be able to keep a couple of gooduns but even so, we're a shit team, how good are they in reality? Fuck em. 

Takashi numbnut ranting about Kilman, Taty and Pablo - these signings are not the problem, in fact Taty and Pablo have been very positive - the damage was done in the Pellegrini and Moyes eras with signings like Anderson, Haller, Vlasic, Scamacca, Benrahma, JWP and undoubtedly tens of others. Short term self centred managers, thinking about today and not tomorrow and getting it wrong - and the hopeless daft cunts running the club allowing them to do it. We aint even seeing the impact of the disastrous Kilman signing yet. That cսnt is a millstone around our necks that will hang around like the bad AIDS. But we're yet to fully enjoy the consequences of that one. 

I'm up for a few years in the championship, bin off the mercenaries, get the youth in. Fuck the accounts, fuck the board and fuck all your fucking mothers. 

who's panicking? the club was dead/on life support the minute the 4ft freak walked through the door, and who cares about maintaining 17th to 10th every year under these crooked cunts? if it brought us closer to a new start and people in charge, bring on the drop. that they only took over in the first place  to get hold of the land where the stadium lies, and the current london mayor never signing over the land to anyone any time soon, we're pretty much in limbo for the foreseeable future. I know all about the fucking players you listed, why do you think I disliked moyes so much and his depreciation of expensive signings, but that's history and I'm talking about us having to believe that they're laying out the sums quoted for substandard players. none of it makes any sense, but football has long been out of control so the money keeps flowing to the right people

[Vexed]

Firstly I'm not convinced this is quite as bad as many of the panic stricken bellends on here are stating, its not very good at all but nobody should be surprised at this. I'd wait for the commentary from people well versed in football finances before soaking my slacks, not youtubers or dickheads like you lot. 

Selling players was inevitable upon getting relegated, again why are we surprised at this 'news'? If we stay up by some minor miracle then we have enough assets to be able to keep a couple of gooduns but even so, we're a shit team, how good are they in reality? Fuck em. 

Takashi numbnut ranting about Kilman, Taty and Pablo - these signings are not the problem, in fact Taty and Pablo have been very positive - the damage was done in the Pellegrini and Moyes eras with signings like Anderson, Haller, Vlasic, Scamacca, Benrahma, JWP and undoubtedly tens of others. Short term self centred managers, thinking about today and not tomorrow and getting it wrong - and the hopeless daft cunts running the club allowing them to do it. We aint even seeing the impact of the disastrous Kilman signing yet. That cսnt is a millstone around our necks that will hang around like the bad AIDS. But we're yet to fully enjoy the consequences of that one. 

I'm up for a few years in the championship, bin off the mercenaries, get the youth in. Fuck the accounts, fuck the board and fuck all your fucking mothers. 

[Westside]

"Not sure mate, surely they’d only be in a quandary if they’d actually put their own money in. "

They have. Kretinsky lobbed in £125 million, via a new share issue in early 2023.  The existing owners at the time of Covid put in £30 million via a share rights issue. To say nothing of their original investments when they bought the club.

Subsequent to these accounts, the club have drawn down £89 million of their pay day loan facility of £125 million, at December 2025. 

[GBHammer63]

All they've done is keep borrowing against future TV income and wasting most of it due to their inept, prehistoric recruitment methods. 

They have kept kicking the can down the road in the hope that a Conservative mayor gets back in and gives them the stadium and site for practically nothing.

No doubt this is what Boris promised them in the first place when they did the deal to sell the old ground.

The only trouble with that is there is absolutely no way they are getting a mayor back in that favours their little plan anytime in the near future which leaves them somewhat in a quandary doesn't it?

 

 

Not sure mate, surely they’d only be in a quandary if they’d actually put their own money in. 

[Westside]

When does the sale of half the women’s team land? Next set of accounts?

As far as I can see online the sale hasn't gone through yet. Perhaps their low league position, is causing the sale to stall? If it goes through before the end of this May, then it will be in the next set of accounts.

As far as I know, the sale of the women's team would have been a Chelsea like manouevre to circumvent PSR regulations. If PSR no longer applies then the sale is no longer an imperative as it is not relevant to Squad Cost Ratios.

Speaking of Chelsea, didn't they lose £355m in 2024/25? That's quite impressive. 

PSR is still in force for this season, so our accounts, will need all the help they can get. The proposed sale of the women's team is to a third party, so we will presumably get market rate. Unlike the sale of the Chelsea hotel to a sister company, for a dodgy valuation.
Chelsea's losses were impressively massive. More impressive they didn't breach PSR. A recent Times article (behind a pay wall, so no link). stated that no club brecahed Premier League PSR rules last season. 

[Fauxstralian]

I can imagine this is the only reason for stories of Brady leaving … not from embarrassment due to mind boggling incompetence…. but because she is on for a massive bonus if she can get the ground for free and has given up on that happening 

[eusebiovic]

All they've done is keep borrowing against future TV income and wasting most of it due to their inept, prehistoric recruitment methods. 

They have kept kicking the can down the road in the hope that a Conservative mayor gets back in and gives them the stadium and site for practically nothing.

No doubt this is what Boris promised them in the first place when they did the deal to sell the old ground.

The only trouble with that is there is absolutely no way they are getting a mayor back in that favours their little plan anytime in the near future which leaves them somewhat in a quandary doesn't it?

[Fauxstralian]

In any public company with this appalling performance… overblown wasted spending & impending relegation (equivalent of dropping out of the FTSE100) … the CEO would be marched off the premises in a heartbeat 
Rumours of Brady going off to perform her magic elsewhere but shouldn’t be a choice for the rancid incompetent who it was said appointed the buffoon Potter because he is best mates with her husband 

[John Drake]

When does the sale of half the women’s team land? Next set of accounts?

As far as I can see online the sale hasn't gone through yet. Perhaps their low league position, is causing the sale to stall? If it goes through before the end of this May, then it will be in the next set of accounts.

As far as I know, the sale of the women's team would have been a Chelsea like manouevre to circumvent PSR regulations. If PSR no longer applies then the sale is no longer an imperative as it is not relevant to Squad Cost Ratios.

Speaking of Chelsea, didn't they lose £355m in 2024/25? That's quite impressive. 

[GBHammer63]

Is there a level that’s lower than total ineptitude?

[Westside]

When does the sale of half the women’s team land? Next set of accounts?

As far as I can see online the sale hasn't gone through yet. Perhaps their low league position, is causing the sale to stall? If it goes through before the end of this May, then it will be in the next set of accounts.

[goose]

When does the sale of half the women’s team land? Next set of accounts?

[Takashi Miike]

Hard to believe that this squad, which is the thinnest it’s been in recent years and we are in this financial situation.

not really hard to believe when they've (allegedly, I struggle to believe it) paid out close to £100m for three ordinary players like kilman, taty and pablo (and there's loads more) since they turned up at the club. kilman on a fucking seven year deal, a goalkeeper with dinosaur arms that we didn't need at the time, a muscle bound spanish sumo that has zero ability other than lifting weights & throwing midgets. auditors/fraud people should have been brought in a long time ago, but it's probably happening at most clubs so they're not going to want the gravy train to end anytime soon

You managed to shoehorn a dig at Traore even though the outlay on him is minimal and clearly it was Nuno who told the owners he had to have him, pretty pathetic that to be fair. So you don't rate the player, boo hoo, get over it for fucks sake!

and £100k+ a week isn't fucking minimal when you have productive kids like Ajala, etc that have yet to sign deals, but keep rimming the fantasy island cսnt. there's a good Manuel

[Takashi Miike]

Hard to believe that this squad, which is the thinnest it’s been in recent years and we are in this financial situation.

not really hard to believe when they've (allegedly, I struggle to believe it) paid out close to £100m for three ordinary players like kilman, taty and pablo (and there's loads more) since they turned up at the club. kilman on a fucking seven year deal, a goalkeeper with dinosaur arms that we didn't need at the time, a muscle bound spanish sumo that has zero ability other than lifting weights & throwing midgets. auditors/fraud people should have been brought in a long time ago, but it's probably happening at most clubs so they're not going to want the gravy train to end anytime soon

You managed to shoehorn a dig at Traore even though the outlay on him is minimal and clearly it was Nuno who told the owners he had to have him, pretty pathetic that to be fair. So you don't rate the player, boo hoo, get over it for fucks sake!

he told the owners he had to have him? after delivering the square root of fuck all for the first two months in charge. you can't help yourself, continually sticking your tongue up sullivan's backside. won't hear a fucking bad word about him. like a loyal, thick mutt, you'll keep wagging your tail as we deteriorate further

[Pub Bigot]

The accounts basically confirm our relegation. Whether this season, the next, or the one after. They say that we need to sell any good players we have and then replace them with cheap pints, and repeat. 

So this Summer regardless, Summerville and Fernandes will go. Probably Diouf too.

Replaced by lesser, 'hopeful' signings and ever declining squad quality....until the season where that doesn't pay off and we go down. Maybe it's this year. Maybe next....or the one after. But it's coming.

If that’s the case, I think the midget will try and sell
up quickly, get away, paint himself as the hero who saved the club in 2010 and the victim (ironic) in 2026. 

[stubbo-admin]

The accounts basically confirm our relegation. Whether this season, the next, or the one after. They say that we need to sell any good players we have and then replace them with cheap pints, and repeat. 

So this Summer regardless, Summerville and Fernandes will go. Probably Diouf too.

Replaced by lesser, 'hopeful' signings and ever declining squad quality....until the season where that doesn't pay off and we go down. Maybe it's this year. Maybe next....or the one after. But it's coming.

[goose]

Poor recruitment is the route of all this. We’ve invested terribly and are paying the price on and off the pitch.

Now we’re proper fucked. Even if we stay up our hands are tied unless we sell.

[Manuel]

I trust the posters of WHO will finally stop demanding we spend beyond our means each transfer window for a couple of years, now?

Hard to believe that this squad, which is the thinnest it’s been in recent years and we are in this financial situation.

not really hard to believe when they've (allegedly, I struggle to believe it) paid out close to £100m for three ordinary players like kilman, taty and pablo (and there's loads more) since they turned up at the club. kilman on a fucking seven year deal, a goalkeeper with dinosaur arms that we didn't need at the time, a muscle bound spanish sumo that has zero ability other than lifting weights & throwing midgets. auditors/fraud people should have been brought in a long time ago, but it's probably happening at most clubs so they're not going to want the gravy train to end anytime soon

You managed to shoehorn a dig at Traore even though the outlay on him is minimal and clearly it was Nuno who told the owners he had to have him, pretty pathetic that to be fair. So you don't rate the player, boo hoo, get over it for fucks sake!

[Pub Bigot]

We all knew the club was in a state, now we know finally these business savvy geniuses are have crippled the club. 

None of this is personal money of course, so them as individuals are fine. 

Any potential buyer would have to buy at Sullivan’s ridiculous valuation and inherit the debt. 
 

[Takashi Miike]

I trust the posters of WHO will finally stop demanding we spend beyond our means each transfer window for a couple of years, now?

Hard to believe that this squad, which is the thinnest it’s been in recent years and we are in this financial situation.

not really hard to believe when they've (allegedly, I struggle to believe it) paid out close to £100m for three ordinary players like kilman, taty and pablo (and there's loads more) since they turned up at the club. kilman on a fucking seven year deal, a goalkeeper with dinosaur arms that we didn't need at the time, a muscle bound spanish sumo that has zero ability other than lifting weights & throwing midgets. auditors/fraud people should have been brought in a long time ago, but it's probably happening at most clubs so they're not going to want the gravy train to end anytime soon

[Fauxstralian]

After their incompetent running of the club the only solution is:
Immediate dismissal of the CEO Lady Brady
Issue of £500m of new shares to refinance the club to be taken up by the Midget, Postman Pat & the American cuckoos in the nest
If this can't or won’t  happen the club should be sold immediately 

[dealcanvey]

I trust the posters of WHO will finally stop demanding we spend beyond our means each transfer window for a couple of years, now?

Hard to believe that this squad, which is the thinnest it’s been in recent years and we are in this financial situation.

[Monsieur merde de cheval]

Will we ever have  even semi -competent owners..?
Can't see it in my lifetime.
All I know is 
It's all there .

[Gank]

I trust the posters of WHO will finally stop demanding we spend beyond our means each transfer window for a couple of years, now?

[violator]

My god I, and on behalf of my dear departed dad, that these cunts get on a doomed plane or helicopter.