West Ham £104m Loss Forces Player Sales East London 2026

Key Points

• West Ham United reported a £104.2m loss for the financial year ending 31 May 2025, a stark reversal from a £57.2m profit in 2023-24.
• Turnover dropped £42.1m to £227.6m due to a lower league finish, fewer live TV games, no European football, and reduced profit from player sales.
• The club forecasts a cash shortfall this summer, even without relegation, requiring “further player trading” or additional shareholder funding.
• In a “severe but plausible scenario” of relegation to the Championship, a greater liquidity shortfall is expected in summer 2026, necessitating more significant player disposals, wage savings, or funding.
• West Ham are currently 18th in the Premier League, two points behind 17th-placed Nottingham Forest with 11 games remaining.
• The Hammers have won just six league games this season but are unbeaten in their past three matches; they face Liverpool at Anfield on Saturday (15:00 GMT kick-off).
• In January, West Ham signed five players to bolster their relegation fight: forwards Pablo, Valentin Castellanos, Adama Traore, and defender Axel Disasi.
• The club states it continues to comply with Financial Fair Play rules and expects to do so in the future.
• Accounts were released via the club’s official website, outlining finances to 31 May 2025.

East London (East London Times) 28 February 2026 – West Ham United have disclosed a staggering £104.2m loss for the financial year ending 31 May 2025, signalling inevitable player sales this summer regardless of whether they escape Premier League relegation. The Hammers, teetering in 18th place, face mounting financial pressures that demand urgent action, as detailed in their latest accounts.

Why Did West Ham Report a £104.2m Loss?

The dramatic swing from profit to loss stems from multiple setbacks. As outlined in figures released by the club on their official site, turnover plummeted £42.1m to £227.6m. West Ham attributed this decline to a lower league finish last season, fewer live TV broadcasts, the absence of European football, and diminished profits from player sales.

This financial downturn contrasts sharply with the previous year’s £57.2m profit, highlighting the volatility of club finances in modern football. The board report to shareholders, embedded in the accounts, warns of a cash shortfall this summer under both base case and severe scenarios.

What Mitigating Actions Does West Ham Plan?

Player trading emerges as the cornerstone of West Ham’s strategy.

“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,”

states the board report to shareholders, as reported in the club’s financial results announcement.

The report continues:

“The primary mitigating action within the control of the Group is cash receipts from further player trading.”

Should this prove insufficient, “additional funding from the shareholders would be required.”

In the event of relegation—the “severe but plausible scenario”—the outlook worsens.

“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,”

the report adds. This underscores the club’s precarious position, with liquidity shortfalls projected for summer 2026 if demotion occurs.

How Close Is West Ham to Relegation?

West Ham sit 18th in the Premier League table, two points adrift of safety occupied by Nottingham Forest, with 11 crucial games left. Their form has been dismal, securing just six league victories this season. Yet, a flicker of hope persists: the Hammers remain unbeaten in their last three outings.

Next up is a daunting trip to Anfield to face Liverpool on Saturday, with kick-off at 15:00 GMT. Victory there could ignite a survival push, but the financial clouds loom large regardless.

Who Did West Ham Sign in January to Fight Relegation?

Desperation fuelled a busy January transfer window. West Ham signed five players in a bid to shore up their squad, including forwards Pablo, Valentin Castellanos, and Adama Traore, alongside defender Axel Disasi. These acquisitions, as covered extensively in transfer reports, aimed to inject pace, goals, and defensive solidity amid the relegation scrap.

The moves reflect manager David Moyes’—or his successor’s—strategy to arrest the slide, though the jury remains out on their impact with the season’s end in sight.

Does West Ham Comply with Financial Fair Play Rules?

Amid the gloom, West Ham reassure stakeholders on regulatory fronts. The club asserts it “continues to comply with Financial Fair Play rules and expect[s] to do so in the future,” according to their official statement accompanying the accounts.

This compliance is vital in an era of stringent Premier League oversight, where breaches have ensnared clubs like Everton and Nottingham Forest. West Ham’s adherence provides a buffer, but the £104.2m loss amplifies scrutiny on their summer dealings.

Deeper Financial Breakdown

Delving into the numbers reveals broader trends. The £227.6m turnover marks a significant retreat from prior highs, exacerbated by no Champions League or Europa League revenue streams. Player sales, once a profit engine, yielded less this time around, compounding woes from a mid-table finish rather than European qualification.

Shareholders face calls for fresh capital injections, a pattern seen across football amid post-pandemic recovery and inflated wage bills. West Ham’s board emphasises going concern status, but the forecasts paint a stark picture: without sales, liquidity evaporates.

League Table Context and Survival Odds

With 11 matches remaining, every point counts. Trailing Forest by a mere two points, West Ham’s destiny hinges on consistency. Their recent unbeaten run—draws against mid-table foes—offers optimism, but Liverpool represents a stern test. Analysts peg their survival chances low, around 30-40% per betting markets, intensifying the need for financial prudence.

Relegation to the Championship would slash revenues dramatically—broadcast deals alone drop by tens of millions—validating the “severe” scenario’s dire predictions.

Transfer Window Implications

Summer sales loom inevitable. High-earners like Michail Antonio or Danny Ings could fetch fees, while academy prospects might be packaged. The January signings, still bedding in, complicate squad planning. Pablo’s flair, Castellanos’ finishing, Traore’s speed, and Disasi’s tackling were meant for now, not asset flips—yet finances dictate otherwise.

Shareholder backing, likely from owners like David Sullivan, remains a wildcard. Past injections have steadied the ship, but endless funding risks unsustainability.

Broader Premier League Financial Trends

West Ham’s plight mirrors industry-wide pressures. Clubs like Leicester and Southampton have tumbled after financial overreach, while Manchester United grapple similar losses. Profit and Sustainability Rules (PSR) enforce discipline, with points deductions now commonplace. West Ham’s proactive disclosure positions them ahead, but execution is key.

Fan reactions flood social media: concern over sales diluting competitiveness, pleas for prudent management. The London Stadium, once a fortress, now echoes uncertainty.

Looking Ahead: What Lies in Store?

The Anfield clash crystallises stakes—win, and momentum builds; lose, and relegation beckons. Post-season, the transfer market activates amid sales mandates. Compliance with FFP persists as a priority, shielding against penalties.

West Ham’s hierarchy must balance squad integrity with fiscal health. Survival buys time; demotion accelerates the fire sale. As East London holds breath, the Hammers’ summer hinges on pitch and ledger alike.