“Dictate the perception” | Sullivan issues statement on financial results | OneFootball

David Sullivan has issued a statement to fans to try and lift the mood following a poor first half of the season.

The club have issued positive financial results for the end of May 2024, however the statement will do little to alleviate the frustrations and concerns over where this campaign is heading under Head Coach Julen Lopetegui.

The results show a net profit before tax of £57.2million, with the Club record transfer of Declan Rice, a product of the Academy of Football, and the Club’s UEFA Europa Conference League victory prize money, which is reflected in this set of accounts, key factors.

Other factors for the significant profit include the increase in turnover thanks to the higher Premier League position achieved in 2023/24 (ninth), and higher revenues in the UEFA Europa League compared to the UEFA Europa Conference League, where the Club advanced to the quarter-final stages.

These results placed the Club in a strong and healthy position to be able to re-invest every penny of the profit, as well as investing additional funds, strengthening the men’s first team playing squad substantially and significantly during the summer 2024 transfer window, following the arrival of new Head Coach Julen Lopetegui.

“We fully understand that we operate in a unique industry, in which the highs and lows of results and performances on the pitch tend to dictate the perception of a football club’s general prosperity and well-being. June 2023 gave us the Club’s first major trophy in more than 40 years, and memories of that night in Prague will stay forever in our hearts.

“It gives me a great sense of pride – as a custodian of this great football club – to know that West Ham United is on a firm and robust financial footing, with every penny re-invested into our squad, our infrastructure and our local London community, giving us a strong platform to continue progressing and building towards our long-term objectives.

“We are now in our longest unbroken run as a Premier League club, we have an award-winning charitable Foundation making a real and tangible difference to the lives of people in east London and beyond, and we have cleared down historical debt, meaning that West Ham United can continue striving to be successful, on and off the pitch, for the benefit of our supporters and our community.”