WH Holding Ltd on December 29, announced its financial results for the year ending 31 May 2023.

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Following a significant and record-breaking investment of £183.9m in the men’s playing squad in the summer of 2022, which ultimately led to a hugely successful and memorable 2022/23 campaign, the Club reports a net loss before tax of £18.3m.

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With the acquisition of international stars including Lucas Paquetá, Emerson Palmieri, Nayef Aguerd and Alphonse Areola, the Club secured its first major trophy in 43 years and a record third consecutive season in European competition with victory in the UEFA Europa Conference League Final in June.*

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The success of the men’s senior team was replicated by the Club’s world-famous Academy, with our Under-18 squad winning both the U18 Premier League South title and the FA Youth Cup, and three players from that squad making their senior first team debuts during the course of the campaign.

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West Ham United’s women’s team successfully maintained their Barclays Women’s Super League status and will look to build upon this in 2023/24 with the appointment of a new Board of Directors and a new highly experienced manager in Rehanne Skinner, who joined in July 2023.

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Off the field, West Ham United continued to make tremendous progress and positive growth in all areas throughout 2022/23. As one of the fastest growing brands in world football, the Club is now focused on continuing to grow its stature both domestically and internationally, maximising the presence, reach and exposure of the Club by championing our values in key targeted territories.

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The loyalty displayed by the Club’s fanbase, indicated by the exceptionally high level of Season Ticket renewals even following the increase in capacity to 62,500, gives us one of the highest number of Season Ticket holders in London and the Premier League, putting the Club in a strong position as we move forward.

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Our commitment to equality, diversity and inclusion remains unwavering. We became the first Premier League club to receive the Menopause Friendly Accreditation, joined the Hidden Disabilities Sunflower Scheme and are a member of the Valuable 500 Partnership of organisations dedicated to ending disability exclusion.

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A successful year on and off the pitch meant turnover was again incredibly positive in 2022/23 at £236.7m, driven once again by strong matchday, commercial and retail income. The Club also paid off the MSD Holdings Limited loan during this financial term, replacing it with a more favourable Barclays overdraft facility.

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Reflecting on a positive period for the Club, Joint-Chair and largest shareholder David Sullivan said: “For everyone at West Ham United, 2022/23 was an extraordinary, unforgettable and emotional season.

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“In January, we experienced great sadness with the passing of our Joint-Chairman and great friend, David Gold, followed so tragically by his daughter Jacqueline soon after. I would like to take this opportunity to pay tribute to David and his devotion to West Ham United. He would have been so proud to see the success the Club has enjoyed this year, and he and Jacqueline are both sorely missed by all of us.

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“On a more positive note, we have continued to make tremendous progress as a football club, both on and off the pitch. No one will ever forget the scenes in Prague in June as we lifted a first European trophy in 58 years, nor the magnificent scenes at the parade in east London the following day. An incredible reward for our loyal, passionate supporters, who continue to back us every step of the way, both domestically and in Europe.

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“Since the start of 2023, we have seen a big improvement in on-field results, with many of our new signings really beginning to settle in and play a key role in our positive upward trajectory. We remain on track for a successful Premier League season in 2023/24, as well as having the excitement of the latter stages of the UEFA Europa League to look forward to in the New Year.

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“The future continues to look extremely bright for West Ham United. We have enjoyed an unprecedented level of success over the course of the past three years – but I believe there is even more to come.”

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Source: West Ham

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