West Ham United ownership, governance and finances since the move to the London Stadium
This article provides a concise and factual review of West Ham United’s ownership, governance and financial performance since 2012, covering the period from the move to the London Stadium through to the most recent audited accounts. All figures are derived from official filings and publicly available material.
Summary
- Profit after tax of £58.5 million for the year ended 31 May 2024, driven largely by £96.3 million in player sale profits.
- Operating profit before player trading of £54.6 million and turnover of £268.2 million.
- Wages to turnover ratio of 59.3 percent, consistent with Premier League norms.
- Shareholders’ deficit improved to £108.4 million at 31 May 2024 (from £169.6 million the prior year).
- Cash at bank stood at £33 million and net debt continued to fall year on year.
Ownership timeline
- 2010 — David Sullivan and David Gold acquire controlling stakes in West Ham United.
- 2012 — Karren Brady joins the board as vice-chairman to oversee operational restructuring.
- 2016 — The club moves to the London Stadium under a long-term lease after contributing £15 million towards conversion costs.
- November 2021 — Czech investor Daniel Křetínský acquires a 27 percent holding through 1890s Holdings a.s and joins the board with Pavel Horský.
- January 2023 — David Gold passes away; Vanessa Gold later appointed to the board.
- 2024 — Ownership remains stable with the Sullivan family retaining majority control and the Křetínský partnership continuing.
Governance and structure
West Ham United Football Club Limited is the principal subsidiary of WH Holding Limited. The board includes principal shareholders and executives responsible for day-to-day management, with representation from minority investor 1890s Holdings. The club’s governance framework reflects Premier League requirements, including published statements on risk, sustainability, and going concern. Annual accounts are lodged with Companies House and follow UK accounting standards.
Financial performance
The table below summarises key financial figures extracted from the audited accounts of West Ham United Football Club Limited for the most recent two financial years.
| Year ended 31 May | Turnover (£m) | Operating profit (£m) | Profit after tax (£m) | Wages to turnover |
|---|---|---|---|---|
| 2023–24 | 268.2 | 54.6 | 58.5 | 59.3% |
| 2022–23 | 235.4 | 53.3 | (16.2) | 57.5% |
Balance sheet summary
| Item | 31 May 2024 (£m) | 31 May 2023 (£m) |
|---|---|---|
| Cash at bank | 33.0 | 35.1 |
| Total shareholders’ deficit | (108.4) | (169.6) |
| Creditors within one year | 396.6 | 342.6 |
| Creditors after one year | 93.2 | 146.7 |
Charts
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Stadium and lease
The club occupies the London Stadium under a long-term concession agreement that began in 2016. Public records confirm a £15 million contribution by the club towards conversion works. The lease and subsequent information release under tribunal order are part of the London Legacy Development Corporation’s published documents. [4][5]
European participation and comparison
West Ham United have participated in European competition in three of the last four seasons, including victory in the UEFA Europa Conference League in 2023. Financially, the club ranks mid-table in the Premier League by revenue and comfortably within UEFA’s financial sustainability limits.
| Club | Revenue 2023–24 (£m) | Wages 2023–24 (£m) | European participation (5 years) |
|---|---|---|---|
| West Ham United | 268 | 159 | 3 seasons |
| Newcastle United | 250 | 187 | 1 season |
| Aston Villa | 260 | 171 | 2 seasons |
| Brighton & Hove Albion | 204 | 146 | 1 season |
Outlook
The club’s financial position is stable, with improved equity, manageable debt and sustained Premier League income. Ownership remains secure under the Sullivan family with continued partnership from Křetínský’s 1890s Holdings. Stadium costs are fixed and predictable. Provided continued top-flight participation, West Ham United appear positioned for moderate and sustainable growth with capacity for measured investment in squad and infrastructure.
Sources
- West Ham United Football Club Limited, Annual Report and Financial Statements, year ended 31 May 2024, Companies House filing.
- West Ham United Club Statement, 10 November 2021, confirming acquisition of 27 percent by 1890s Holdings a.s.
- Press coverage of the 27 percent investment and board appointments, The Guardian, 2021.
- London Stadium concession documentation, London Legacy Development Corporation.
- Public tribunal rulings regarding disclosure of the concession agreement.
- Companies House records confirming appointment of Vanessa Gold as Director, 2023.
- UEFA Financial Sustainability Regulations, 2024.
- Club annual reports and UEFA submissions for comparative clubs (Newcastle United, Aston Villa, Brighton & Hove Albion).
All monetary values are in pounds sterling and rounded to the nearest million. Figures are drawn from published accounts and verified public sources.