Story perspectives

West Ham posts £104.2m record pre-tax loss after relegation

8/17/2026

Summary

West Ham Losses

West Ham United posted a record pre-tax loss of £104.2 million for 2024/25 after relegation.
The club’s £57.2 million profit in 2024 had depended on the £105 million sale of Declan Rice.
West Ham owes £212 million to other clubs, with £113 million due within 12 months.
Relegation clauses cut player wages by up to 50 percent.
The club expects to raise about £150 million by selling high-earners.

Summary

Staveley Negotiates

Amanda Staveley is negotiating a 25 % West Ham United stake and purchase of the London Stadium, competing with Daniel Kretinsky.
Mayor Sir Sadiq Khan says he is open to selling the Olympic venue after relegation raised costs.
Financial adviser Stefan Borson says demolition could exceed £1 billion and wait until after the 2029 World Athletics Championships.
UK Athletics may oppose a sale while supporters hope a rebuild restores the Upton Park atmosphere.

History

Historical Context

Leeds United’s 2003-04 relegation set off a cascade of debt built on loans taken during Peter Ridsdale’s chairmanship, culminating in voluntary administration on 4 May 2007 with a 10-point deduction and £6 million owed to HMRC. The club’s earlier £30 million sale of Rio Ferdinand exemplified the desperate player sales that followed, a pattern now echoed in other relegated clubs facing asset-sale pressures.

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West Ham Losses

West Ham United posted a record pre-tax loss of £104.2 million for 2024/25 after relegation.
The club’s £57.2 million profit in 2024 had depended on the £105 million sale of Declan Rice.
West Ham owes £212 million to other clubs, with £113 million due within 12 months.
Relegation clauses cut player wages by up to 50 percent.
The club expects to raise about £150 million by selling high-earners.

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