West Ham’s newly announced financial accounts for the 2018/2019 season have been released today which show a record turnover of £190.7m however, the club posted a big loss of £28.2m when player trading was factored in.
The main areas show:
O Turnover increased by £15.4m (8.8%) from £175.3m to £190.7m
O TV income grew by £8.9m (7.5%) from to £118.5m to £127.4m
O Ticket income grew by £2.9m (11.8%) from £24.5m to £27.4m
O Commercial and sponsorship including corporate hospitality sales grew by £3.4m (14.1%) from £24m to £27.4m
O Retail and shop sales grew by £500,000 (6%) from £8.2m to £8.7m
O The club published a gross profit of £20.6m but this reduced to a net loss of £28.2m after a net spend £44.7m of player trading was factored in
O Wages increased by £29.2m (27.4%) from £106.6m to £135.8m which means wages account for 71,2% of turnover.
The highest-paid director wages (believed to be West Ham Vice-Chairman Karren Brady) increased her salary from £898,000 to £1.13m.
O Net spend on player transfers was listed at £89.4m for last season 2018/2019 with £6.8m of potential add-ons. Post balance notes reveal a net spend on transfers of £35.8m last summer (2019) with £3.4m of potential add-ons.
In the last four years the club say they have spent £214.4m net on new players and has invested £22m on infrastructure, including complete refurbishment of facilities at Rush Green, including a new gym and new training pitches; the Academy at Chadwell Heath was totally rebuilt; and almost £2m has been invested in the Women’s team.
O An update on West Ham loans:
The club re-paid a £39m short-term loan to Media Rights and Funding between May and July 2019. A new short term loan of £39m with Media Rights and Funding was secured against the training grounds and Stadium lease to help with cash flow. This loan is due for repayment in July 202o.
The Share Holder loan balance £45m has been deferred from payback in January 2020 to a date yet to be defined. Two payments £2.9m were paid to David Sullivan and David Gold in respect of interest accrued on Share Holder loans. Interest was charged ar 4.25%. An additional £1m payment was made to a company controlled by David Gold as a partial payment of loan capital brining the total paid back to £3.9m down from £4.6m the previous year.
...... think I’ll read the Lion the Witch and the Wardrobe next.
“£22m on infrastructure, including complete refurbishment of facilities at Rush Green, including a new gym and new training pitches; the Academy at Chadwell Heath was totally rebuilt”
They’re referring to the portacabins here right?
Last edited by ToneLoc on Tue Jan 28, 2020 10:08 am, edited 1 time in total.
Fancy calling your only son "Barnestoneworth"
He's got another name....
Yeah....."United"
ToneLoc wrote: ↑Tue Jan 28, 2020 9:52 am
...... think I’ll read the Lion the Witch and the Wardrobe next.
Speaking as someone who spent most of his working life in finance can I just say that accounts, like statistics, can usually tell the story you want to be told.
Why Is There Only One Monopolies Commission. Isn't That A Monopoly?
ToneLoc wrote: ↑Tue Jan 28, 2020 9:52 am
...... think I’ll read the Lion the Witch and the Wardrobe next.
Speaking as someone who spent most of his working life in finance can I just say that accounts, like statistics, can usually tell the story you want to be told.
The really damning disclosure, is that 71% of turnover was paid out in wages and the net result was losses.
That shows wastage on an industrial level and indicates either casual ineptitude,wilful ineptitude (fraud) or stellar levels of foolishness.
Because your ROI (return on investment) should always be positive...obviously.
I'm sure DS understands all this naturally - he's just not very good when it comes to football
ToneLoc wrote: ↑Tue Jan 28, 2020 9:52 am
...... think I’ll read the Lion the Witch and the Wardrobe next.
“£22m on infrastructure, including complete refurbishment of facilities at Rush Green, including a new gym and new training pitches; the Academy at Chadwell Heath was totally rebuilt”
They’re referring to the portacabins here right?
ToneLoc wrote: ↑Tue Jan 28, 2020 9:52 am
...... think I’ll read the Lion the Witch and the Wardrobe next.
“£22m on infrastructure, including complete refurbishment of facilities at Rush Green, including a new gym and new training pitches; the Academy at Chadwell Heath was totally rebuilt”
They’re referring to the portacabins here right?
