The Irons have found themselves in a mess on and off the pitch in recent seasons and the financial picture is believed to be on course to get even worse.

Since David Moyes departed at the expiry of his contract two summers ago West Ham have employed three permanent managers in 18 months, with Nuno Espirito Santo currently struggling to arrest the slide at the London Stadium.

West Ham were beaten 1-0 at home by Fulham on Saturday to make it three-straight losses and no Premier League wins in their past seven outings, to leave them five points adrift of safety in 18th place.

West Ham relegation to be ruinous amid financial mess

If Nuno can’t keep West Ham in the top flight there are growing fears that the financial picture at the club will become dire.

According to an update from West Ham Football on X the soon-to-be-released accounts are expected to show nine-figure losses for the year up to May 2025.

And the current year is predicted to follow suit so relegation to the Championship, and a loss of all the revenue that comes with a place in the Premier League, could be an extreme blow.

Two seasons ago the Hammers were able to publish a paper profit of £57m thanks in large part to the sale of Declan Rice to Arsenal for a club-record £105m.

But heavy, and largely failed, recruitment in the windows since, along with the cost of hiring and firing both Julen Lopetegui and Graham Potter has taken its toll.

Responsibility must be parked at David Sullivan’s door

The deepening mire at West Ham has many people’s fingerprints on it, from the squad right up to the ownership.

Far too many of those signings have failed to deliver, with now-AC Milan loanee Niclas Fullkrug seen by West Ham as Steidten’s worst mistake, and even arguably his greatest success, Mohammed Kudus, already since sold onto Tottenham.

After eventually deciding to move on from Moyes the appointment of Lopetegui was odd and the Spaniard never got things up and running from the start, while Potter’s arrival mid-season after he had turned down numerous opportunities in the near-two years since being sacked by Chelsea made even less sense and duly failed.

However, Steidten, Lopetegui and Potter have all paid with their jobs, while unsuccessful signings have started to be moved on with the likes of Fullkrug and Edson Alvarez already out on loan.

When those in management positions repeatedly fail the ultimate responsibility rests with the ownership who appointed them, and above all at West Ham Sullivan.

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