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West Ham chiefs have just held showdown talks as £41m problem laid bare
West Ham chiefs have just held talks about an evolving financial controversy behind the scenes.
David Sullivan and Karren Brady remain the chief decision makers at the London Stadium, with Daniel Kretinsky having no plans to up his stake in West Ham.
Vanessa Gold meanwhile, daughter of the late David Gold, is more of a silent partner and is looking to sell a significant chunk of the equity she has inherited.
The GSB regime have always had a turbulent relationship with the West Ham fanbase, with existing fissures exacerbated by the move to the London Stadium.
Brady and Sullivan promised that occupancy at the 62,500-seater former Olympic venue would allow the club to show more ambition in the transfer market and accommodate more season ticket holders.
There is a sizable section of the fanbase who insist that these pledges have not been honoured – or that they are slowly being reneged on.
Ticket prices have been at the centre of the dispute. And the latest developments on this front provide a window into how the Hammers are handling the issue.
Minutes of West Ham meeting emerge
The costs of season tickets rose almost universally across the Premier League over the summer.
Many experts arguing that clubs are creeping towards a model that favours single-issue tickets, which are more lucrative on a match-by-match basis.
West Ham have one of the highest numbers of season ticket holders in the top flight, but supporters have been up in arms about the club’s controversial new concessions policy.
It emerged earlier this year that West Ham were moving concessions (senior and junior) tickets to potentially inaccessible areas of the London Stadium.
The club have since rowed back on this policy somewhat after campaigns organised by various fan groups, such as Save Our Concessions.
One such group, WHUISC, have recently published the of a meeting they held with Nicola Keye and Cat Smit, West Ham’s director of ticketing and head of supporter services & fan engagement.
The talks, held on 13 August at the London Stadium, provide an insight into how the club is juggling commercial performance with the interests of fans.
Supporter groups expressed dissatisfaction with the recent changes, particularly the impact on young, senior, and disabled fans, as well as families.
The club acknowledged communication shortcomings and agreed to consider feedback and potential policy revisions during the 2024-25 season.
Discussions also covered broader issues like ticket affordability, social injustice, and the impact on long-term supporters.
The club committed to further discussions and exploring solutions in future meetings, with another meeting set tor 11 September,
West Ham’s matchday income and PSR
PSR (Profit and Sustainability Rules) has occasionally been cited as a reason why clubs across the Premier League reputedly need to raise ticket prices.
For West Ham, this is not the case.
They are one of only a handful of clubs to have more or less broken even in recent season, with the Premier League allowing losses of up to £105m over a rolling three-year period.
West Ham earned £41m in matchday income in the last recorded financial year, which was the highest outside the so-called Big Six.
The club and their landlords at the London Stadium have so far been unable to secure a lucrative naming rights agreement, but that lost income is offset by the peppercorn rent they pay per season.