West Ham has turned a sizable loss into a six-million-pound (C$12.6 million) profit after gaining promotion to the Premier League.
Although the figures relate to the 12 months before the arrival of Argentina stars Carlos Tevez and Javier Mascherano at the end of August, the Hammers reported a big turnaround from the 5.1-million-pound (C$10.7 million) loss from the season before.
The change is largely because of increased TV revenue from playing in the Premier League and an FA Cup run all the way to the final, where West Ham lost on penalties to Liverpool.
A consortium led by Iranian-born businessman Kia Joorabchian _ whose former company Media Sports Investment owns the contracts of Tevez and Mascherano _ is reported to have put together a takeover bid for West Ham.
The club is fourth from last in the Premier League and already out of the UEFA Cup despite the arrival of the Argentina stars.
Tevez and Mascherano were brought over from Brazilian club Corinthians but the transfer fees were kept secret.
© The Canadian Press, 2007
