West Ham relegation cost owners David Gold and David Sullivan £16 million each Accounts for last season, which ended with West Ham bouncing back into the Premier League via the play-offs, show that the owners put in £16.1m each to underwrite losses in 2011-12. Since the start of this season they have put in a further £3m. The accounts, which show the club made a loss of £25.5m on turnover of £46m in 2011-12, also reveal that the club has taken a short-term loan of £12m, secured against broadcast revenue for next season and repayable in August. The owner's cash injection means the club's net debt stood at £71m at the start of this season. The club's wage bill in 2011-12 was £41m, or 90 per cent of turnover. Around half of the owner's loans went on transfers to help the club bounce back, with Kevin Nolan, Matthew Taylor and Ricardo Vaz Te all purchased. As well as loans from the owners and a £30m bank loan, the club also has around £4m in loans from the consortium of Icelandic banks who still have a stake in the ultimate holding company. The club will also have to make the final £6m payment on its £18m compensation bill to Sheffield United following the Carlos Tévez affair by the summer. Meanwhile Gold has said he believes a move to the Olympic Stadium could be confirmed on March 16, though he admitted the saga had embarrassed him in the past. I think we're close. It's only what I'm being promised. As we speak I'm being promised March 16," Gold told TalkSport. We would sign the agreement then.