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Hammers renew short term loan

Companies House records have revealed that West Ham has borrowed money again from Rights and Media Funding Limited in the last few days.

The club paid off the remaining balance from their previous £39m short-term loan from the same lender last month.

A charge was registered at Companies House yesterday 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 new credit facility is thought to give West Ham the ability to borrow up tens of millions 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 in transfer windows.

Rights and Media Funding limited is claimed to be funded by mega-rich West Ham fan Michael Tabor.

The club has .used a revolving credit facility since 2013 so the renewal is not something unexpected

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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

5 comments on “Hammers renew short term loan

  1. Good. Perhaps we can now pay Eintracht Frankfurt what they are due!

  2. I wonder why we don’t do the same as spurs, clever business off the government at 0.50percent .
    Every business in the country is using it.

  3. Sounds solid enough.

  4. Why not borrow of themselves no interest at all then …👍😂

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