A mammoth West Ham cash boost worth hundreds of millions has been unveiled by a board confidant who claims it has vindicated the club’s big decision.
West Ham have been vindicated for their decision to leave Upton Park for the London Stadium.
That’s according to a Hammers insider with close links to majority owner David Sullivan and vice-chair Karren Brady.
West Ham’s move to the former Olympic Stadium caused much controversy. Not least among West Ham fans, most of whom have taken several years to settle at their new home following the 2016 departure from the club’s beloved Boleyn Ground.
West Ham’s owners always insisted the move was necessary to help elevate the club to the next level.
Mammoth West Ham cash boost worth hundreds of millions unveiled by board confidant who claims it has vindicated club’s big decision
And financially they have been proved right according to finance savvy insider Sean Whetstone.
A mammoth West Ham cash boost worth hundreds of millions has been unveiled by the board confidant who claims it has vindicated the club’s big decision.
Analysing West Ham’s most up-to-date financials, Whetstone has revealed the Hammers have hit record turnover of a whopping £253m.
That’s up a huge £111m (78 per cent) from the last season at Upton Park.
The accounts, for the 2021/22 season, show ticket revenue shot up £14m to £41m from that 2015/16 Farewell Boleyn campaign.
Whetstone highlights that club shop/retail sales have risen by £4m up to £13m (44%). Commercial revenue including sponsorship and corporate hospitality have also increased by £15m to £34m (up 79%).
Record turnover up a whopping £111m since move and it could get even better
The board insider also highlighted the fact that West Ham’s £4m London Stadium rent is ‘far less’ than the operating costs at their former home.
“That last season’s turnover (at Upton Park) was £142m of which £27m was in ticket sales, £9m in retail sales and £13m in commercial revenue including sponsorship including corporate hospitality,” Whetstone said.
“The latest figures for West Ham finance published at the London Stadium is 2021/2022 season as last season will not be published until next January.
“Record turnover of £253m turnover up a massive £111m (78%) from the last season at the Boleyn…
“For those who says there was no financial benefit from moving stadium, these figures prove that misconception wrong.”
Slowly but surely starting to feel like home for most but fans who can’t take to London Stadium perfectly entitled to feel that way regardless of finances
It is worth noting that there is every chance West Ham could break that turnover record in future accounts.
Given West Ham’s European glory and participation in the Europa League again this season, there is every chance the coffers will continue to swell.
Of course that will not vindicate the move in the hearts and minds of those who feel the Hammers sold their soul by leaving Upton Park for Stratford.
And those fans are perfectly entitled to feel that way.
For the majority, though, the settling down of new matchday routines and some great memories – like the win over Arsenal in midweek – has slowly but surely made the London Stadium feel a little bit more like home.
One myth that has been busted by the move is that ‘West Ham wouldn’t fill it’. The club boasts one of the top five attendances in world football.
READ ALSO
Moyes brilliantly shuts down reporter when questioned on the situation at West Ham.
Fantastic news for West Ham about Liverpool cup draw after bitter blow.
Rice sideshow deflected attention from the real reunion hero of West Ham win.
Receive a digest of our best West Ham content each week direct to your mailbox
