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Hammers borrow from High Street bank!

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By Sean Whetstone

West Ham have borrowed money from Barclays Bank to help with summer cash flow.

The Hammers registered three charges with Companies House on 29th August effectively mortgaging Rush Green and Chadwell Health training grounds.

They have also borrowed against future Premier League broadcast revenue in the 2024/2024 season.

West Ham previously borrowed from Michael Dell company MSD Holdings Limited but have paid that off and moved to the high street bank.

A club insider explained the change was a like for like replacement but was cheaper with Barclays.

MS Holdings are thought to have charged between 9% and 10% in interest on loans to football clubs.

On 14th August West Ham revealed on Companies House they had paid off money owed to MS Holdings with a satisfaction of a charge.

Two years ago West Ham secured a long-term five-year loan from MSD Holdings Ltd, the British arm of MSD Capital

At the time the Hammers took out a loan facility worth £120 million which was used to pay off the short-term loans they had taken from Rights & Media Funding Ltd (£55 million) and an overdraft extension with Barclays (£20 million).

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Hugh Southon is a lifelong Iron and the founding editor of ClaretandHugh. He is a national newspaper journalist of many years experience and was Bobby Moore's 'ghost' writer during the great man's lifetime. He describes ClaretandHugh as "the Hammers daily newspaper!"

Follow on Twitter @hughsouthon

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