West Ham co-owner Daniel Kretinsky is believed to be uneasy that the club failed to record a profit in 2021-22 despite having had one of its best-ever seasons on the pitch, sources have told Football Insider.
The Czech billionaire, a notoriously shrewd investor who bought a 27 per cent stake in the club in November last year, is understood to be taking an active role in decoding how the Hammers can eke out greater financial margins.
The 47-year-old has neither the inclination nor the strategic footing to purchase more shares at this stage despite having the option for a full takeover after the expiration of windfall tax clause in April next year.
A source close to Kretinsky has now told this site that West Ham are due to record a loss in the low eight-figure bracket for a campaign that saw them finish 7th in the Premier League and reach the semi-finals of the Europa League.
The full accounts are due to be filed with Companies House by the end of February but Football Insider has learned that a snapshot of the accounts could be made available in January.
Revenue is expected to return to pre-pandemic levels and exceed the club-record £193m they earned in 2018-19.
In fact, all three pillars of the club’s turnover – matchday, broadcast and commercial – are expected to reach new highs for the financial year.
But their soaring income has not translated to an overall profit, although the results are stronger than the £27m and £65m losses the club recorded in the pandemic-struck 2019-20 and 2020-21 seasons.
There was an increase in the wage bill related to performance-related payouts, while the arrivals of Kurt Zouma and Nikola Vlasic among others cost the club a combined total of close to £70m.