Now that the transfer window is closed, we can analyse the effect of outbound sales on the [West Ham](https://www.claretandhugh.info/transfer-spend-up-you-must-be-joking-west-ham-looking-at-window-profit/) financial accounts.
Lucas Paqueta signed from Lyon in 2022 for £36m plus up to £16m of add-ons. His fee was amortised on the West Ham accounts at a maximum of £10.4m per season if all add-ons were triggered. It is safe to say that around £42m of the maximum £52m is already written off in West Ham’s books, so a profit of £26m on paper for PSR purposes.
West Ham earned a huge ‘book’ profit from the sale of Lucas Paquetá
Luis Guilherme signed from Palmeiras in 2024 for £19.5m plus up to £6m in add-ons. Again, his fee would have been written off over his five-year contract at a maximum of £5.1m. With £10.2m already written off and a maximum £15.3m remaining, West Ham should just about break even if add-ons are triggered.
Andy Irving signed from SK Austria Klagenfurt in 2023 for a reported £1.5m transfer fee, which was written off during his three-year contract. His £1.3m fee can be registered as pure paper profit on the West Ham accounts.
Guido Rodriguez signed for West Ham on a free transfer in 2024, so the small token transfer fee of £216,500 is real and paper profit.
Niclas Fullkrug was signed from Borussia Dortmund in 2024 for £27m, so written off at £5.4m per year. £10.8m has already been written off in West Ham accounts, and a further £5.4m will be written down this summer. Should AC Milan activate their £11.3m option this summer, there will be £10.8m remaining on the books, meaning that his sale will record a small paper profit of £500,000, incredible as it sounds.
**That means West Ham can record a paper profit – for player sales for PSR purposes – of around £28m for this season.**
The final PSR accounting period is 30 June 2026, where West Ham must stay within the £105m losses over a three-year period, and that assumes the shareholders inject cash to cover losses. Although the Hammers recorded a £57m profit two years ago, last season’s is around £100m loss -when released this month – leaving West Ham around £43m losses. Therefore, West Ham’s losses must be under £62m this season to avoid potential sanctions.