The 2015/16 accounts for WH Holding Ltd - West Ham United's parent company - have been released.
Co-owner David Sullivan says he was "extremely satisfied" with the achievements made by West Ham during the 2015/16 season - a year in which the club spent £53m on players prior to the start of the campaign and a further £45m thereafter, in preparation for the current term.However the chairman's subsequent claim that "we took Simone Zaza, Jonathan Calleri and Gokhan Tore on loan, thereby strengthening and improving our squad," has been questioned by a number of supporters already.
The key points of this year's statement are as follows:
* WHUFC achieved operating profit of £31.5m - an increase of £4.5m from 2014/15 accounts
* But club makes loss of £4.9m overall
* TV revenue up from £79m to £87m
* And turnover up from £121m to £142m
* The club took out a £30m loan - repayable in July 2017 - against future TV rights revenue
* £45m was invested in the squad prior to the 2016/17 campaign
* Overall debt under £100m for the first time during Sullivan & Gold's tenure
* Vice Chair Karren Brady enjoyed a 40 per cent wage increase
* Co-owners draw £6.1m dividends - incvluding 7 per cent interest
* £8m profit on sale of the Boleyn Ground
* Necessary improvements at the OS cost WHUFC £4m
KUMB will provide a detailed analysis of the new WH Holding accounts next week.
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