West Ham borrow against next season’s TV money

New documents released at Companies House yesterday show that West Ham United have borrowed money from Barclays bank against next season’s TV money.

The new registration of a charge on the 9th November reveals the club have borrowed money secured against Premier League central broadcast funds for the 2021/2022 season defined as the basic award fund and central funds due to be received in July and August next year.

The latest revelation comes after another charge on 27th October for Barclays bank thought to be personally guaranteed by the owners and worth up to £25m.

In August the club completed a rights issue with existing shareholders injecting £30m of cash into the club.

At the beginning of August, they borrowed again from Media Rights and Funding against training grounds and the stadium and shop leases. In previous years they have borrowed up to £40m from the same lender in a revolving credit facility.

It is not clear whether this new companies document  is linked to the £25m loan at the end of October or another loan at this stage.