West Ham United were placed at number 20 – one of nine Premier League clubs – in the 2026 Deloitte Money League, which ranks revenue generation among football clubs internationally.
Bethan Evans, a banking and finance partner at Clarke Willmott, says: “The drop in income following relegation is likely to put pressure on existing financing arrangements, potentially requiring engagement with lenders or restructuring of obligations.”
“Depending on the lenders’ position, this might involve resetting financial covenants, renegotiating interest or capital repayments and a requirement for further security or guarantees.”
Declan Goodwin, a commercial partner who specialises in legal risk with a focus on commercial contracts, intellectual property and data protection, says: “Stadium-linked commercial agreements are often structured around Premier League exposure, meaning relegation can materially change their value and trigger renegotiations.”
Sarah MacLarty, senior associate in the employment team, says West Ham’s wage bill is significantly higher than that of the average Championship club, at around £75,000 per player per week.
“Many West Ham players are likely to have release clauses in their contracts allowing them to leave for reduced fees, while others may be subject to wage reductions.
“A move to the Championship is also likely to prompt a reassessment of operational priorities, including staffing and internal structures, in line with the club’s revised financial position.”
She adds: “From an employment law perspective, clubs must ensure that any contractual mechanisms, such as relegation wage reduction clauses, are clearly drafted and enforceable. There may also be implications for non-playing staff, including potential restructures or redundancies, which must be handled in accordance with consultation requirements and employment legislation to mitigate legal risk.”
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