West Ham face summer player sales after £104m loss

“The primary mitigating action within the control of the Group is cash receipts from further player trading,” the report adds.

“Should this not be preferred or sufficient, additional funding from the shareholders would be required.

“In the event the severe but plausible scenario occurs, the Group is also forecasting a liquidity shortfall in summer 2026 to a greater severity.

“Accordingly, more significant mitigating actions would be required such as further player disposals to generate transfer fee income and wage savings, or additional funding from the shareholders, or a combination thereof.”

West Ham have won just six league games this season but are unbeaten in their past three. They face Liverpool at Anfield on Saturday (15:00 GMT kick-off).

The Hammers signed five players in January in an attempt to avoid relegation, including forwards Pablo, Valentin Castellanos, Adama Traore and defender Axel Disasi.

West Ham say they continue to comply with Financial Fair Play rules “and expect to do so in the future”.