Documents have been published at Companies House today confirming that West Ham have entered into a new bank overdraft agreement with Barclays bank secured against the Premier League payment of central funds to the Hammers for the 2025/2026 season and also the Premier League’s basic award payment to West Ham for the 2026/2027 season (in case of relegation).
Central funds for each Premier League fund are worth around £96m based on last season’s published figures while the basic award (parachute payment) is worth around £49m so around £145m over two seasons.
The paperwork published today at Companies House is dated last week (16th July) the day after West Ham was due to repay £40m on Monday 15 July back to Barclays Bank.
Although no figures are mentioned in the two official documents raised as official charges against West Ham United Football Club Limited it is a safe bet to assume that the club at borrowed at least £40m, potentially more to pay off last’s years bank loan in the form of credit facility from the high street bank. Because the overdraft is secured against £145m of future payments from the Premier League, in theory they could borrow a lot more under the same terms.
I am amazed that people on here criticise our board when in fact all of us haven’t got the foggiest how a football club is run me included. The financial problems we have is what about 95% of all clubs worldwide have. Take Barcelona for instance. One of the biggest clubs in the world and they have massive financial problems but we don’t see there fans slag them off do we.
Tell Kretinsky to dip into his small change or if he’s not interested in this club, which he clearly isn’t, to bu@@@@ off to Prague !
As for Sullivan’s, get on your yacht sail to the Caribbean and don’t come back.
Pub teams run better than this.
They the directors are a disgrace Sullivan and co need to go they cannot be fans of the club we need to give the board banners ,and chants so they and the tv viewers can see and hear what is really going on.
Not looking forward to the new season 75 years attending our club this is a new low.
What would change ? Under PSR the owners can’t just throw money in….which is why Newcastle and Villa have to sell players despite rich ownership
Complete shambles of a football club. Wonder what my boss would say if I asked for 2 years salary in advance because I can’t pay this weeks grocery bill. Just do the decent thing and go Sullivan.
We know there have been cash flow problems at the present driven by payments being due on purchased players and little coming the other way. With the Gold family trying to get rid of their shares it would be nearly impossible to arrange a cash injection into the club. All this does is make sure that there are no more cash flow issues this year (it is very unlikely the full amount would be drawn down) or until the Gold’s move their shares on. If there’s any blame the Gold family may have unrealistic ideas about the value of their holding.
‘Football Club Ownership For Dummies’ is alive and well under Sullivan. It all just beggars belief!
Why would you publish an article like this? Does this not mean that all clubs we are looking to buy from know we have money to spend and can adjust their asking price upwards accordingly?
What ? You think when Sullivan shrugs his shoulders and lowballs clubs with bids they take pity on him (believe him) and accept lower offers ?
West Ham has a history of borrowing against future Premier League payments doesn’t it? Id say it’s pretty common practice in the Barclays premier league to secure loans against future seasons broadcast funds. Im guessing this is a recurring strategy to bridge cash flow gaps, especially for transfer fees paid in installments right?
How can we be run so badly? We have 2 billionaires on the board who have successful business careers.
Regardless of their worth, how are we run like this and how is this any better from the Brown years
at least 3. I’m assuming you left off Tripp Smith?
16th Richest Club, no £90m cash injection from the board, free transfers and now borrowing against our future proceeds to pay off existing debt.
Complete shambles!
Shame the new football regulator wasn’t in place before we left Upton Park for this nightmare that we can’t wake up from!
Already been offered tickets for the Chelsea game from ST holders – no thanks!
West Ham have just received around £40 million from ST sales, so they probably paid off the outstanding debt to Barclays with that. As ever with the clowns that sit in the boardroom, our cashflow is non existant and we continually borrow money from future revenues to keep the club afloat.
Absolute circus of a club with no idea how to run a muti million pound business, just sell up and go.