Published accounts have revealed that West Ham borrowed a further £23m from Rights and Media Funding Limited which is repayable in July 2019.A charge was registered at Companies House dated 17th August 2018 to renew the credit facility from Rights and Media Funding limited secured against the training grounds, shop and stadium leases.
The new credit facility is thought to give West Ham the ability to borrow up to £45m with the club paying 1% interest to have that amount on call while they pay 7% per annum of interest on any funds they actually borrow. The level of the loan akin to an overdraft caries throughout the year to help with cash flow, especially transfer windows.
Rights and Media Funding limited is claimed to be funded by mega-rich West Ham fan Michael Tabor.
