Uefa warn West Ham
By Sean Whetstone
West Ham will bid to restrict summer spending in the transfer window to the proceeds of outbound sales in order to help comply with European FFP regulations.
According to Six Foot Two – West Ham Magazine Site (6foot2.co.uk) UEFA’s FFP regulations are even stricter than those in the Premier League with the the allowable losses just over £50m (or 60m Euros) over three years, compared to £105m in the Premier League.
Earlier this year In a statement, UEFA warned West Ham and 18 other European clubs on a watchlist that the “exceptional COVID deductions and consideration of historical financial results will no longer be possible from financial year 2023. These clubs were further asked for additional financial information and will be monitored closely in the upcoming period,”
West Ham lost £65m in 2020 and then a further £26.5m in 2021 before making a profit of £10.5m in 2022. This meant the three three rolling losses totalled £81m, some £31m over the limit.
This was permitted for exceptional circumstances because of COVID with clubs warned that that exceptional would disappear for 2023 figures.
West Ham lost £16m over the last two years 2021 and 2022 so in theory can loss up to £34m for 2023 but they will need to stay with the £50m three year rolling limit in future years.
The financial year for 2023 finished a few weeks ago on 31st May 2023 and will include the £165m summer spending spree of last year which is likely to lead to more losses this past season.
