A major new financial update has dropped at West Ham — but rather than clearing things up, it’s raised more questions than answers.

The figures involved are staggering, and fans are now wondering what it really means for the club’s future.

West Ham United’s ownership is among the wealthiest in the Premier League.

In fact the astonishing rise in Daniel Kretinsky’s net worth to around £13bn means that, on paper, the Hammers have the third richest owners in the English top flight.

With the second biggest average attendances in the country, sitting 17th in the rankings of the world’s richest clubs in terms of income and after selling homegrown Declan Rice for a pure £105m profit, many feel money should not be an issue for West Ham.

West Ham’s financial problems spark fan anger towards board

Yet the Hammers have been pleading PSR poverty all year, citing it as a reason behind transfer window struggles in the summer.

It is now over to Nuno Espirito Santo to try and keep the Hammers’ paper-thin squad in the Premier League with the team sitting second bottom of the fledgling table after seven games.

West Ham’s owners dropped a £100m bombshell a few months ago as they warned fans that record losses exceeding that amount are coming in the next set of accounts, due to be released in December.

Previously, West Ham’s owners have always had their management of the club’s finances to fall back on when criticised by fans.

Especially having taken over the club after the Icelandic banking collapse over 15 years ago.

But the fact the Hammers have struggled to invest in the team amid mounting losses forms a central part of the new campaign of protests against the board.

Now a mega money West Ham financial update has raised more questions than answers.

Sean Whetstone is a close confidant of Hammers chief David Sullivan and vice-chair Karren Brady.

Nuno has been appointed on a three-year deal in east London and will expect backing if he is to turn the sinking ship around.

It seems the Hammers are being very active behind the scenes with transactions worth tens of millions of pounds taking place.

Whetstone has now revealed West Ham filed four separate documents with Companies House last week showing they had settled four separate loans with Barclays.

Three of those financial agreements related to August 2023, and the remaining loan is dated July 2024.

In August 2023, West Ham borrowed money against future broadcast revenue from the Premier League, called a basic award.

Whetstone explains that the Hammers hierarchy then went on to borrow more money in further loan agreements secured against property and land, namely Rush Green in one agreement and Chadwell Heath in the other.

In July 2024, they borrowed again from the High Street bank against future broadcast revenue from the Premier League. The documents filed on 6 October 2025 with Companies House, titled ‘Satisfaction of a Charge’, show that a registered company has fully paid off a debt previously registered as a charge.

It has also been revealed West Ham borrowed yet more money over the summer which, in theory at least based on value of potential income from the sale of the assets borrowed against, could total as much as £165m.

Hammers pay off loans worth tens of millions

Although the loan will likely be a lot less than that amount and Whetstone suggests the latest loans were used to pay off previous loans.

So West Ham’s mega rich owners are taking out loans on club assets and essentially then paying them off – by taking out further loans on club assets.

“Financial accounts show that West Ham disclosed they borrowed £30m from Barclays Bank in August 2024 and renewed a £40m overdraft facility in July 2024,” Whetstone said on X.

“The money borrowed against these four transactions in 2023 and 2024 is now settled.

“West Ham went on to borrow more money over the last summer from Barclays and Media Rights Funding Limited.

“Although the amounts actually borrowed have not been declared yet, in theory, they could borrow up to £165m, being the valuation of the assets they were secured against.

“In reality, the sums borrowed are most likely a lot less and were used in part to pay off the loans from 2023 and 2024.”