A David Sullivan confidant has shared some shocking £96m West Ham sponsor news that will leave fans incredulous.
West Ham are on course to announce record £360m turnover in their next set of accounts.
But things could and should be even better for the Hammers it seems.
Besides TV money, ticket sales and merchandise and Premier League prize cash, one potentially lucrative income stream for West Ham.
By now most West Ham fans will have seen the club’s new kits leaked online.
Those leaks confirmed the Hammers are set to switch sleeve sponsors from JD Sports to Quickbooks.
But there have been big question marks over the future of principal sponsor Betway.
Last season news emerged that two companies were involved in a ‘multi-million pound’ battle for the naming rights to West Ham’s home ground the London Stadium.
The Evening Standard claimed stadium owners LLDC had been leading negotiations with German finance giants Allianz and American ticket company Stage Front.
What’s happening with West Ham’s sponsorship deals?
As reported on Hammers News, West Ham would get a share of the money of any deal over £4m and have power of veto.
It was not the only potential big money sponsorship deal on the horizon for the Hammers, though.
There has been much speculation surrounding West Ham’s main sponsor Betway. With betting companies set to be banned from the front of football shirts, the likes of West Ham and another nine Premier League clubs will have to find new sponsors.
Vice chair Karren Brady confirmed the Hammers are in line for a new sponsor to replace Betway when discussing the stadium naming rights last year.
In a five-page letter, Brady made it clear West Ham would soon be going to market to find a new main sponsor. And she made it clear that packaging West Ham’s sponsorship with a naming rights deal is the best approach.
Well now a David Sullivan confidant has shared some shocking £96m West Ham sponsor news.
Sullivan confidant shares £96m West Ham sponsorship news
Club insider Sean Whetstone counts majority owner Sullivan and Brady among his contacts.
He has delivered an update on Betway’s sponsorship of West Ham and what could happen next.
Whetstone has also shared a shocking revelation about how much West Ham have been missing out on in their undervalued deal.
“West Ham could continue their association with Betway way beyond 2026 when a voluntary Premier League ban of betting companies on front of shirts is implemented,” Whetstone said.
“West Ham have partnered with Betway since 2015, signing a new £60m deal in 2019 which expires in 2025. The Hammers could extend that deal another year in the 2025/2026 season before the ban comes into place and then move Betway to a sleeve sponsor as the ban does not cover other sponsorship deals.
“Sleeve sponsorship deals are worth between £1m and £25m per season and gambling companies could push up that value in the 2026/2027 season as they scramble to replace their front of shirt deals.
“Another option could be for West Ham to sell the London Stadium naming rights to Betway assuming they have agreed a long lease to operate the former Olympic Stadium by then.
“There are no current regulations about renaming the London Stadium as the Betway stadium as it stands and a combined stadium and sleeve sponsorship deal could easily be worth £10m per season to the Hammers.”
Hammers not getting fair market value
Supporters will be incredulous when they hear Whetstone’s other big update.
Sharing a table from the Sponsor publication, Whetstone highlights the Hammers are getting a whopping £16m less per season in sponsorship than the recognised fair market value.
Only Man United’s differential was higher – by £1.5m.
It is more crucial than ever that clubs ensure they are maximising income due to PSR rules.
So the fact West Ham will miss out on as much as £96m over six years is hugely disappointing to learn.
“West Ham are receiving £16m less in sponsorship than they could according to the Sponsor publication in their annual fair market valuation table,” Whetstone said.
“The Hammers currently earn £10m per season from Betway but that is £16m less that they could command it is claimed. The Betway £60m six-year deal signed in 2019 is due to end next year.
“Sleeve sponsorship deals now range between £1m and £25m per year with West Ham signing up Quickbooks this coming season to replace JD Sports.”