After the publication of £104m of losses for last season, all attention reverts to this season and what losses ‘might’ be incurred by West Ham up to end of May 2026.

Wages stood at £176m last summer and should drop by around £11m this season after a flurry of departures of high earners in the last nine months.

West Ham’s operating expenses were £237m last season leaving an operating loss of £5m

The Hammers are thought to have shed £33.5m from their wage bill in the last nine months that could mean an operating profit of £28.5m next season.

However, player trading or amortisation is likely to stay around £100m this season meaning potential losses of £71.5m if nothing is done.

West Ham made £20m profit from player trading last season:

But that needs to ramp up this summer to keep losses under £58m and within PSR guidelines for the last time before they are replaced: A ticking time bomb this summer – even before the real possibility of the financial disaster of relegation from the Premier League gets factored in.

Profit from selling Lucas Paquetá was quickly wiped out

The Hammers did make a profit...