Search

West Ham’s new stadium made little difference to profits

PUBLISHED: 16:30 07 March 2018

West Ham United fans outside the ground before the Premier League match at London Stadium.

West Ham United fans outside the ground before the Premier League match at London Stadium.

PA Wire/PA Images

Hammers vice-chairman admits profits would have been similar if the club had stayed at Upton Park

Karren Brady the West Ham vice-chairman Karren Brady the West Ham vice-chairman

West Ham United would have made a similar profit last year had they remained at Upton Park according to the club’s annual report this week.

Vice-chairman Karren Brady made the admission in her report on the club’s finances, which also revealed that the sale of their old ground only gleaned a profit of £8.7million.

There were plenty of plusses to come out of the annual report as it was revealed that the club generated their highest income in history for the fourth successive year.

They had 52,000 season tickets renewed, ticket sales were up by 6.3 per cent, retail up by 2 per cent and the community and sponsorship departments increased revenue by some 35.7 per cent.

The sale of Upton Park gleaned West Ham a profit of just £8.7 million The sale of Upton Park gleaned West Ham a profit of just £8.7 million

There was also a profit of £28.4m on player sales, with Dimitri Payet’s return to Marseille yielding much of that.

Overall, the club made a profit before tax of £48.5m, but Brady did mention a little caveat to that.

“It is worth noting that the club would have made a similar profit had it remained at the old stadium,” she said.

“The majority of the profit for the year has been generated from the new broadcast agreement and by profit on player sales.”

The reluctant sale of Dimitri Payet back to Marseille gleaned a big profit for West Ham The reluctant sale of Dimitri Payet back to Marseille gleaned a big profit for West Ham

That will certainly not please those fans who wanted to stay at Upton Park and who are currently at loggerheads with the board.

The small amount of profit gleaned from the sale of Upton Park is explained by the costs of moving to the new stadium.

Brady is certainly full of praise for The London stadium as she states in her report.

“It is already apparent that our new home is one of the greatest arenas in world football and a platform to transform the future of our great club,” she insisted.

The London Stadium (originally known as the Olympic Stadium), now home to West Ham United football club, at the Queen Elizabeth Olympic Park in Stratford, east London. The London Stadium (originally known as the Olympic Stadium), now home to West Ham United football club, at the Queen Elizabeth Olympic Park in Stratford, east London.

“We have been very focused on delivering a ground that looks and feels like the home ground of West Ham United. We invested a significant amount of money, running into millions of pounds, in the external wrap, the digital screen and branding inside and outside the stadium.

“The hospitality areas, which are significantly bigger than at the Boleyn Stadium, are completely sold out for the next three years with a substantial waiting list.”

Again, some fans may question those sorts of statements, but it is hard to argue that the club has become a bigger one off the field, if not on it this season.

They have the potential to compete with the big boys in the future on these sorts of figures with the only codicil on that progress being the horrific prospect of relegation from the Premier League and the financial implications of that.

Latest East London Sports News

17:28

Belgium and Tunisia have met on three previous occasions in all competitions, with a win apiece and a draw. The encounters have been tight affairs, with victories decided by one-goal margins, but today’s match didn’t follow the same trend.

Nottinghamshire required just an hour and three-quarters on the fourth morning of the Specsavers County Championship game at Chelmsford to remove the last six Essex wickets and claim victory.

12:57

Lakeside Hammers team boss Will Pottinger admits his side have “momentum” after a nail-biting away win at Scunthorpe on Friday night.

12:00

Gareth Southgate’s promising young England side look ready to make a mark on the world stage and help atone for the disappointments of recent tournaments.

Yesterday, 19:15

Essex (206 & 88-4) trail Nottinghamshire (380 & 266) by 352 runs

Yesterday, 17:00

Trevor Tamatave expresses his delight after Wednesday’s event proves to be a huge success

Yesterday, 16:33

Brazil and Costa Rica were winless in their opening matches at the World Cup and were both hoping for their first victory of the tournament at the Saint Petersburg Stadium.

Yesterday, 13:00

The experienced duo discussed who they think will win the 2018 World Cup recently

Newsletter Sign Up

East London Advertiser twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Most read sport

Show Job Lists

Digital Edition

cover

Enjoy the
Docklands and East London Advertiser
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now