The figures also underline the importance of Premier League survival to the Hammers, who are currently only out of the relegation zone by virtue of a less inferior goal difference.
A report from The Guardian explains that West Ham’s 2018/19 pre-tax loss total £28.8m and that the club paid £2.9m in interest on loans to owners David Sullivan and David Gold.
A further £1m was paid to another company connected to Gold, while the balance of ‘unsecured’ loans advanced by the owners stands at £45m.
Rather alarmingly, a statement in the accounts stresses that remaining in the Premier League, which brings with it tremendously lucrative broadcasting revenue, is an ‘absolute necessity’ in order to suitably preserve the ‘future wellbeing’ of the club.
Were West Ham to be relegated, there is a stark warning of ‘serious financial consequences’.
The club reappointed former manager David Moyes on 29 December, having sacked predecessor Manuel Pellegrini in a bid to halt a concerning run of form that had seen the team win only two Premier League games in a run of 13 stretching back to September.
Moyes immediately oversaw a 4-0 New Year’s Day victory against fellow strugglers Bournemouth, but defeats against Sheffield United and Leicester either side of a draw with Everton have followed.
Next up for West Ham is a game in hand from before Christmas against league leaders Liverpool on Wednesday night. They will also face reigning champions Manchester City and then Liverpool for a second time before the end of February.
There is therefore tremendous pressure on Moyes’ team to win against Brighton at home at the weekend. Other upcoming games are against a much improved Southampton at home at the end of February, followed by a London derby against mid-table Arsenal in early March.
Source : 90min