West Ham United F.C. say they will need to sell players this summer — even if they avoid relegation — after posting a £104.2m loss for the financial year ending 31 May 2025.
The figure marks a sharp reversal from the £57.2m profit recorded in 2023-24. Turnover dropped by £42.1m to £227.6m, which the club attributed to a lower league finish, fewer live television matches, the absence of European football and reduced profits from player sales.
Cash shortfall warning
In a report to shareholders, the club warned of a projected cash shortfall this summer — even without relegation from the Premier League. West Ham are currently 18th, two points from safety with 11 matches remaining.
The board stated that “further player trading” represents the primary mitigating action available to generate liquidity. If transfer income proves insufficient, additional funding from shareholders would be required.
The report also outlines a “severe but plausible scenario” involving relegation, which would deepen the financial strain and potentially necessitate more significant player disposals or further shareholder investment by summer 2026.
Tough summer ahead
Manager Nuno Espirito Santo could face a challenging rebuilding period. The club signed five players in January in an effort to avoid relegation, including Pablo, Valentin Castellanos, Adama Traore and Axel Disasi.
Despite the losses, West Ham say they remain compliant with Financial Fair Play regulations and expect to continue doing so.
On the pitch, the Hammers have won six league games this season but are unbeaten in their past three. They travel to face Liverpool F.C. at Anfield on Saturday hoping to edge closer to safety — and ease both sporting and financial pressure.
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