West Ham say staying in the Premier League this season is "an absolute necessity for the future wellbeing of the club".
It's after they reported a pre-tax loss of over 28 million pounds to the year ending last May.
The club has blamed an investment in the squad and increased wages for the loss.
"Retention of our status in 2019-20 season is an absolute necessity for the future wellbeing of the club," read a Hammers statement, with the Londoners currently just outside the relegation zone on goal difference.
“The principal business risk remains that of the football club being relegated from the Premier League with the serious financial consequences which follow.
"The board is committed to ensuring that this great club has a strong and stable foundation to build upon.
"As custodians of West Ham United, the board will continue to manage the club in a responsible and sustainable manner and will continue to work hard for supporters."
Joint-owner David Sullivan's accompanying notes, written in October 2019 claimed their investments had given them "one of the strongest squads in the Premier League", but they've since sacked Manuel Pellegrini and replaced him with David Moyes.
"The board made a decision at the beginning of 2018 to embark on an investment programme that would involve bringing in a world class manager, investing in better players and making significant investment in the club's infrastructure,
"We now believe we have one of the strongest squads and management teams in the Premier League."
