Appearing in the media this morning, is the inference that West Ham United recorded a record profit last season.
The figure being bandied about, after our first season as residents at the Olympic Stadium is a cool £43 million.
To us, that figure is pretty respectable and shows that the board are doing their utmost to not only balance the books but leave some cash in the kitty ready for all eventualities.
However, reading through the article, it appears that the record profit isn`t as a result of the move to the London Stadium, even though the facility has enabled the club to almost double its attendance figures since the Boleyn Ground was deserted.
Using quotes from Karren Brady, the popular red-top publication, The Sun, carries the following quotes, relating to the record profit,
“The club would have made a similar profit had it remained at the old stadium.”
Apparently, the record profit is being attributed to the substantial increase in TV revenue the club received and also the fee they received for Dimitri Payet when the talented French international decided that he no longer wanted to be part of our club.
Slightly puzzled, would it be churlish to ask where the additional revenue the move to the London Stadium comes into the equation then?
