Tuesday, January 19, 2010

West Ham's £110 Million Debt

New owner David Sullivan has revealed that West Ham are £110 million in debt and have already borrowed against next season's ticket money.

"We've got £50m owed to banks and £40m owed to other clubs, including Sheffield United [for the Carlos Tevez affair]. In addition, West Ham are not owed a single penny by other clubs.

The club has also borrowed against next season's ticket money and then there is the Alan Curbishley settlement. Makes around £110m in total. We've inherited these liabilities and we are going to have to work through them. We need to do a lot of wheeling and dealing which we're good at.

The sponsors have paid 70 per cent of their three-years up front. We've paid down some of the debt and injected some working capital but there's still more than £100million of debt."

1 Comments:

At 4:12 PM, Anonymous matthechat said...

if you mean what you say then WELCOM as west ham fans you know the game we all like to watch football whitch keeps you on the edge of your seat played by local boys,franco can give us that if you can keep us afloat HAPPY DAYS

 

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