West Ham must sell players in summer after 104m loss

"Under both the base case and severe but plausible case forecasts, mitigating actions are required in order to have sufficient liquidity for the Group to meet its liabilities over the going concern period. The primary mitigating action within the control of the Group is cash receipts from further player trading."

"In the event the severe but plausible scenario occurs, the Group is also forecasting a liquidity shortfall in summer 2026 to a greater severity. Accordingly, more significant mitigating actions would be required such as further player disposals to generate transfer fee income and wage savings, or additional funding from the shareholders, or a combination thereof."

"Turnover fell 42.1m to 227.6m after a lower league finish, fewer live TV games, no European football and a reduced profit from player sales, West Ham said. The accounts forecast a cash shortfall this summer - even before the severe but plausible scenario of dropping into the Championship."

West Ham United faces significant financial difficulties after reporting a £104.2m loss for the year ending 31 May 2025, a dramatic reversal from a £57.2m profit the previous year. Turnover declined by £42.1m to £227.6m due to a lower league finish, reduced television coverage, absence of European football, and diminished player sale profits. The club forecasts a cash shortfall this summer and requires further player sales to maintain liquidity. Even under the base case scenario, mitigating actions are necessary. If West Ham is relegated to the Championship, the situation becomes more severe, requiring substantial player disposals, wage reductions, or additional shareholder funding. The club currently sits 18th in the Premier League, two points from safety.

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