Hammers borrowed £23m to help fund summer spending

Published accounts have revealed that West Ham borrowed a further £23m from Rights and Media Funding Limited which is repayable in July 2019.

The club paid off the remaining £10m from a £30m short-term loan from the same lender on 13th July this year.

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.

About Sean Whetstone

I am Season Ticket Holder in West stand lower at the London Stadium and before that, I used to stand in the Sir Trevor Brooking Lower Row R seat 159 in the Boleyn Ground and in the Eighties I stood on the terraces of the old South Bank. I am a presenter on the West Ham Podcast called MooreThanJustaPodcast.co.uk. A Blogger on WestHamTillIdie.com a member of the West Ham Supporters Advisory Board (SAB), Founder of a Youtube channel called Mr West Ham Football at http://www.youtube.com/MrWestHamFootball, I am also the associate editor here at Claret and Hugh. Life Long singer of bubbles! Come on you Irons! Follow me at @Westhamfootball on twitter