Next Game

West Ham v Sydney FC

Saturday, 26 July 2014, 03:00

Friendly Match

Last Game

Wellington Phoenix FC 2 - 1 West Ham

Wednesday, 23 July 2014, 08:30

Friendly Match

Owners reveal West Ham loan

West Ham owners David Gold and David Sullivan invested £35m in the club to bolster their successful promotion bid last season.

Last Updated: 04/03/13 at 21:11 Post Comment

David Gold, Karren Brady and David Sullivan: Money invested in three-point plan

David Gold, Karren Brady and David Sullivan: Money invested in three-point plan

The significant figure was revealed in the club's newly-released accounts which covered the 12 months they were in the Championship.

The loan helped reinforce the Hammers squad for an immediate return to the Premier League, which they achieved with victory over Blackpool in the Championship play-off final.

The published accounts revealed losses of £25.5m while West Ham were in the second tier, with turnover falling by £34.4m to £46.25m.

But in his chairman's statement, Sullivan insisted the losses following relegation were "inevitable" following the loss of TV and sponsorship income totalling £26.5m.

Sullivan also revealed his and Gold's £35m loan - £3m of which has been

invested this season - was undertaken to fast-track a "three-point strategic plan".

"Both myself and my partner David Gold decided to invest our money into achieving promotion," Sullivan wrote.

"During the season we invested a further £32.2m of our cash in order to allow the manager to go into the transfer market and buy the players we needed to secure promotion.

"During that period we brought or loaned 18 players, most notably Kevin Nolan, Matthew Taylor and Ricardo Vaz Te, investing a total of £17.1m."

Since earning promotion West Ham have spent a further £13m on players, a figure that could rise to £20m, as they pursue the final part of their three-point plan - retaining their Premier League status.

Related News

Most Commented

Readers' Comments

H

e made his power play to try and get Sheikhy to raise his wages or trade him to PSG. PSG were probably not interested and he is stuck with no cake and no vacation. @Jay_D> Surely you jest about FFP being real, right? All Platini is doing is making billionaries pay measly fines, so he and his cronies can get rich. If a fool can pay 50 mil for David Luiz, he will happily pay some fine to UEFA. FFP has failed as for it to succeed UEFA had to take it...

Synergy
Toure: I am staying with City

G

uess we can expect Toure's explanation of his behaviour around the same time Pete Townshend publishes his book then.

ceeps
Toure: I am staying with City

D

amn you Yaya, don't scare me like that! I only ate the icing. I didn't eat the soft and scrumptious middle - I will buy you another cake!

MCFC87
Toure: I am staying with City

Footer 365

Gareth Bale says Real Madrid are eyeing a six-trophy campaign this season

Gareth Bale says Real Madrid are targeting an even bigger trophy haul this season.

Premier League: Gylfi Sigurdsson delighted with move to Swansea from Tottenham

Gylfi Sigurdsson has told Sky Sports he is delighted to have joined former club Swansea from Tottenham.

Transfer news: Tottenham sign Ben Davies and Michel Vorm, Gylfi Sigurdsson joins Swansea

Tottenham have signed Swansea duo Ben Davies and Michel Vorm, with Gylfi Sigurdsson moving in the opposite direction.

Mail Box

Defending Woodward With Perspective

One Mailer is telling us to hold fire on our Woodward criticism, whilst we also have some wonderful PFA Team of The year geekery, a well done to Vieira and much more...

Why The Obsession Over The Captaincy?

Asks the morning mailbox, before hastily returning to the debate over who should replace Steven Gerrard. Plus, thoughts on Ed Woodward's spending plans and more...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property