West Ham United Statement

West Ham United are pleased to release their accounts for the year ended 31 May 2015
The accounts show another record-breaking year for the Club as all areas of income increased, creating total additional revenue of £6m. Turnover was up to £120.7m from £114.8m last year and this helped deliver a second consecutive group operating profit of £3m.
The profit was delivered alongside an expansive and hugely successful £32.5m recruitment drive last summer that delivered nine new players including the likes of Hammer of the Year Aaron Cresswell, top scorer Diafra Sakho and internationals Cheikhou Kouyate, Enner Valencia Alex Song and Carl Jenkinson.
Away from the pitch, there was a 13.7% increase in retail sales, achieving a club record high in turnover of £7.3m, while commercial and sponsorship increased by 6.5%, achieving £14.6m of revenue - another Club record.
West Ham United Joint-Chairman David Sullivan said: “My Board and I are again satisfied with the achievements we have made this season (2014/15). The highlights for us being:
•             Retaining our Premier League status in what was a very competitive year;
•             Making huge progress in our preparation for our move to the Olympic Stadium for the 2016/17 season;
•             Our fantastic support despite a disappointing second half of the season.
•             Our recruitment of a new First Team Management team, led by Slaven Bilic. We would like to thank Sam Allardyce and his staff for their work at the Club over the last four years.
“At the start of the season we invested a net total of £32.5m and bought Mauro Zarate, Enner Valencia, Aaron Cresswell, Cheikhou Kouyate, Diafra Sakho, Diego Poyet and Morgan Amalfitano, and also took Carl Jenkinson and Alex Song on loan from Arsenal and Barcelona respectively. The new players all had a positive impact, particularly in the first half of the season.
“Subsequent to the year end, we have further invested in the playing staff for the 2015/16 season with the significant investment into the purchases of Pedro Obiang, Dimitri Payet, Angelo Ogbonna, Michail Antonio, Nikica Jelavic, Stephen Hendrie and Darren Randolph. We have also taken Carl Jenkinson, Manuel Lanzini, Victor Moses and Alex Song on loan, and extended the contracts of some key players; Diafra Sakho, Aaron Cresswell and Winston Reid.
“This was truly a season of two halves, with a scintillating and uplifting start and then a disappointing period after Christmas. Hopefully we will, in the 2015/16 season, have more results like the first half of 2014/15.
“Once again, this season, our last at the Boleyn Ground after 112 years of playing here, will bring its own challenges, but we continue to believe we will deliver both on and off the pitch by investing in the team, the brand and managing the business well. We all hope it will be one of our best seasons ever.”
West Ham United Vice-Chairman Karren Brady said: “2014/15 was another satisfactory year for the club both on and off the pitch as we once again retained our Premier League status and improved our position in the table. We were officially recognised as one of the world’s leading football brands by Brandfinance, placing us in the top eight most valuable brands in Premier League clubs and 16th overall in the world’s top 50 most valuable football brands for 2015. We increased our revenues again and made an operating profit of £8.5m.
“Through the hard work of a fantastic, dedicated, loyal and determined team both on and off the pitch the club has grown in size, revenue and in stature this season. The management team off the pitch were able to capitalise and maximise on all the opportunities the Manager and the team delivered on the pitch for half of the season, and to this end I would like to offer my thanks to Sam Allardyce and his team and wish them well for the future.
“The Olympic Stadium offers enormous commercial and brand opportunities, and we have a strategy to deliver sell-out crowds and enter that stadium with a team that are befitting of such an amazing iconic venue.
“Finally, we know that we have set a level of expectation amongst our supporters this year, our last at the Boleyn Ground, our home for the last 112 years, and I, my Board and all the staff on and off the pitch relish the opportunity to enjoy a wonderful and successful farewell this year and believe we have both the strategy and people to deliver much more in years to come.”

Click here to view the accounts.