WH accounts released

Nicked from the offish

West Ham United are pleased to release the club's accounts for the year ending 31 May 2011.

In his chairman's statement, Joint-Chairman David Sullivan said: "Given the very challenging position of being relegated from the Premier League in May 2011, I am pleased to report an operating profit of £6.8m after many years of the club posting operating losses.

"We remain strongly focused on our turnaround plan for the club and despite the financial environment, as these accounts disclose, my co-chairman, David Gold, and I invested £3m by way of shareholder loans in the year ended 31 May 2011 on top of our investment in buying shares in the club.

"David and I have undertaken to continue to provide all the financial support necessary to give the club the best possible chance of achieving promotion. We have invested £29m by way of a combination of equity and loans in the last 18 months and we are likely to have to invest in the region of a further £30m in the current season, demonstrating our real and tangible commitment to the club."

these accounts do not take into consideration the drop from the prem

Nobody said it did!!

It is a good point though. Though ending a season in the Prem with a before tax operating profit is pretty good going. This financial year will see a small loss I reckon-small if you half ignore the Sky money. They have trimmed the books significantly from a wage point of view. Other areas I suppose we can't comment on without seeing-i.e the business strengths and shortfalls-but again this is where canny business sense will show the most.

The real worry is the investment loans of £29million-that is the only reason we have been able to show any profit-but again this is pretty standard practice and nothing like the Russian will want back when he is bored of Chelsea.

I wish we could afford another season in the Chumps-I don't feel confident we are equipped; personnel wise nor financially to survive with a foothold in the Prem again. It would be nice to have the luxury of building a team squad of which a clear backbone of a Prem squad could be based upon and built from. Rather than going straight up and fire fighting again.

Its being between the roack and the hard place, i can see where you are coming from, but if we don't go straight back up, we are in more poo and then can't attract the quality needed to get out of the Chumps. A quick return may assist in bringing in the required 'quality' we will need to stay up..........

and keep away from biscuit weilding baldie headed vikings wot look like Gollum!