West Ham manager Nuno Espirito Santo could have a tough summer ahead
Published February 28, 2026 • Source: https://www.bbc.com/sport/football/articles/cn4g0e2weqdo
By Ailsa Cowen
West Ham United say they will need to sell players this summer even if they avoid relegation from the Premier League, after revealing a £104.2m loss for the last financial year.
Figures released by the club, external (https://www.whufc.com/en/news/financial-results-for-2024-25-announced) outline West Ham's finances to the year ending 31 May 2025 - and show a dramatic change from a profit of £57.2m in 2023-24.
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 are currently 18th in the top flight, two points behind 17th-placed Nottingham Forest with 11 games to play.
The Hammers say "further player trading" will be needed in the summer, while shareholders will have to provide more funding.
"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," says a board report to shareholders.
"The primary mitigating action within the control of the Group is cash receipts from further player trading," the report adds.
"Should this not be preferred or sufficient, additional funding from the shareholders would be required.
"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."
West Ham have won just six league games this season but are unbeaten in their past three. They face Liverpool at Anfield on Saturday (15:00 GMT kick-off).
The Hammers signed five players in January in an attempt to avoid relegation, including forwards Pablo, Valentin Castellanos, Adama Traore and defender Axel Disasi.
West Ham say they continue to comply with Financial Fair Play rules "and expect to do so in the future".