West Ham's Premier League status ended with a 3-1 defeat to Leeds combined with Everton's win over Tottenham. Fans vented frustration at chairman David Sullivan during the match, blaming him for a campaign that delivered just two wins in 15 games under Nuno Espirito Santo. The club recorded a £104m loss in their latest accounts, with revenue set to fall by 50-60% in the Championship.

Sullivan has history bouncing back from relegation - he achieved immediate returns with Birmingham in 2007 and 2009, then with West Ham in 2012. However, the club structure has changed dramatically: long-time partner David Gold died in 2023, Karren Brady quit in April, and Daniel Kretinsky is acquiring shares. The club's squad cost ratio sat at 90% this season.

Financial breathing room exists via new Squad Cost Rules allowing 85% spending - West Ham's income will dwarf Championship rivals. Key players like Mateus Fernandes (£40m from last August) and El Hadji Malick Diouf (£19m) could generate profits, but others present problems: Max Kilman (£40m, seven-year deal) hasn't played since January, while Niclas Fullkrug and James Ward-Prowse are already on loan. Most players face 50% wage cuts under contractual clauses.