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ENIC

My guess is that a lot of that is depreciation (i.e. the amount which you write-down a fixed asset by each year). If you have the most expensive stadium in the country then you're depreciation change will be sky high. For example, a £1bn stadium depreciated over 20 years is £50m expense. Its a non-cash expense (the cash was spend building the stadium) but it would go through the P&L as a big expense nevertheless

See table below from the same blog - the ‘other expenses’ are separate from depreciation:

upload_2023-2-14_21-4-22.png
 
See table below from the same blog - the ‘other expenses’ are separate from depreciation:

View attachment 15112

So with no fans or events the other expenses were £60m, with they were £120m. Matchday increased from £2m to £106m, commercial £152 to £183 (some from cinch and getir).

Begs the question, how the fudge do west ham pay £2.5m a year rent?
 
We've already paid around £700m. We'd paid a huge chunk before the stadium was even finished. We have gross debt of around £800m of which the interest paid is around £20m (we actually paid about £41m of the debt though i think). This is seperate from the depreciation in the value of the stadium/training ground.
From what I could tell in the accounts the accounts showed £1m less debt than a year ago.
 
Stadium and training ground which was £1.4bn.

Stadium brings in an extra £66m than whl. Interest is £21m. We paid £41m. Nfl pays £10m of that, other commercial (concerts and that) more. That will increase again this year. Basically the extra revenue from the stadium is like making champions league every year. It's not a burden. Much of the operating expenses are things like stewards and police that we didn't have to pay when there were no fans at the ground.
‘NFL pays £10m of that’. Where do you get that from?
 
My bad. It was in the financials the nfl paid £10m to help fund the stadium. Dunno what the agreement is to host games.
I don’t think we will get much seeing as our corporate income only went up by £17m after removing the new sponsorship deals and merchandising increase.
 
£60m extra just to run the stadium would mean building the new one was pointless. As i said earlier would make an absolute joke of west ham paying £2.5m a year rent for the os.
I can’t think what else could that operating expense relate to though?…. Can we maybe see what that expense was in year 2019/20?
 
£60m extra just to run the stadium would mean building the new one was pointless. As i said earlier would make an absolute joke of west ham paying £2.5m a year rent for the os.
I did a high level calculation on the stadium open costs per match day when I worked at G4s .. yeah I know
We had a staff cost of about £800k and a material cost of around £ 700k so a very similar figure. The ground was imo gonna bring in a round £4m per game.
Food mark up is about 65% but that mark up includes labour
Drink is about 100% so a £1m of beer would bring the club about £500k profit
I’ve got it on a spreadsheet somewhere
We did it on several levels (basic staff, supervisory and specialists)
I’ll see if I can find it and it was costed very high level with guys who price this stuff up over a lunch break
 
I did a high level calculation on the stadium open costs per match day when I worked at G4s .. yeah I know
We had a staff cost of about £800k and a material cost of around £ 700k so a very similar figure. The ground was imo gonna bring in a round £4m per game.
Food mark up is about 65% but that mark up includes labour
Drink is about 100% so a £1m of beer would bring the club about £500k profit
I’ve got it on a spreadsheet somewhere
We did it on several levels (basic staff, supervisory and specialists)
I’ll see if I can find it and it was costed very high level with guys who price this stuff up over a lunch break
I can’t see that profit margin on beer with the duty that needs to be paid mate surely?
 
I did a high level calculation on the stadium open costs per match day when I worked at G4s .. yeah I know
We had a staff cost of about £800k and a material cost of around £ 700k so a very similar figure. The ground was imo gonna bring in a round £4m per game.
Food mark up is about 65% but that mark up includes labour
Drink is about 100% so a £1m of beer would bring the club about £500k profit
I’ve got it on a spreadsheet somewhere
We did it on several levels (basic staff, supervisory and specialists)
I’ll see if I can find it and it was costed very high level with guys who price this stuff up over a lunch break

You might be able to explain then.

2019 £113.8m
2020 £104.1m
2021 £60.6m
2022 £119m

Why the dip in 2021?
 
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