West Ham have borrowed money from high street bank Barclays.
Paperwork was today registered with companies house for West Ham United Football Club Limited with a charge filed against assets owned by the Hammers as security for the loan.
Although the amounts and interest rates have been redacted, the document was signed by West Ham Chief Financial Officer Andy Mollet and witnessed by J.Mollet who listed their occupation as an artist, presumably one of Mollet’s family.
In August this year, West Ham paid back money owed to Media Rights and Funding limited for a revolving credit facility they took out in August 2019.
A new charge was registered at Companies House dated 3rd August 2020 to renew the credit facility from Rights and Media Funding limited and was secured against the club’s training grounds, shop and stadium leases.
The paperwork filed with companies house today suggests West Ham have borrowed more money from Barclays in addition to the Media Rights and Funding facility and the £30m rights issue from shareholders.
Sources close to the club have told Claret and Hugh the amount borrowed from the high street bank was £25m. The money will be used to plug the hole in finances left by the pandemic with lack of ticket and hospitality revenue from the London Stadium, season ticket refunds but also help with instalments for the £80m spent on transfers for Bowen, Soucek, Randolph, Coufal and Benrahma. West Ham is no different to many other Premier League clubs who have been forced to borrow money in these exceptional circumstances, Spurs were forced to borrow £175m from the Bank of England to plug holes in their finances.
The two bobs love saddling this club with debt . Not even there greatest fanboys can say otherwise .
Where has the money from diangana gone?
paid in instalments, we are likely to have only had around £3.6m as the first instalment or maybe £4.5m