West Ham’s recently published accounts show they have made a pre-tax loss of £104million, but they could be headed for more financial damage.

The Hammers took longer than usual to release the documents on Companies House, as the reveal showed a 16 per cent drop in revenue from the 2023/24 campaign.

David Sullivan knows the situation that Nuno Espirito Santo’s side is in, and looks to be trying to protect the Irons in any way he can.

Premier League relegation is a real threat to West Ham, and Sullivan still needs to be careful when making decisive moves for the Hammers off the field.

Kieran Maguire calls out West Ham owners for £124m loan

In a new reveal, West Ham have now chosen to borrow £124m from Rights and Media Funding Limited, a sports and entertainment focused lender.

Premier League finance expert Kieran Maguire published information of the move on his X account, weighing in on Sullivan’s most recent decision.

Maguire wrote: “Very strange that West Ham owners have chosen to borrow £124M from a company called Right and Media Funding Limited.

“This company does not publish audited accounts, has zero employees, and spent a grand total of nine grand on assets last year.”

Not only that, but it’s the same lenders who were involved in issues with Everton in the past, when the Toffees were nearly left bankrupt.

There are several reasons Sullivan and Co. wanted to make this transaction, but it’s likely seen as a cash-flow-focused loan.

What David Sullivan now faces this summer at West Ham

Regardless of which division the Hammers find themselves in next season, Sullivan is going to have to sell this summer.

An obvious sale is shaping up in the form of West Ham skipper Jarrod Bowen, who could bring the Hammers their biggest chunk of cash.

But not only will Nuno’s star man leave, but should relegation occur, there’s almost a guarantee that Crysencio Summerville won’t be in E20 come next season.

Essentially, all of West Ham’s top performers this campaign, bar youth talent, would most likely depart the London Stadium if a drop to the Championship does happen.

The Irons’ financial struggles are not done yet, and even if Nuno keeps them up, he may struggle next campaign.

For even more West Ham news and financial updates, head over to Football Insider.