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Revealed: £55m West Ham loan update as paperwork filed
West Ham have finished their repayment of a £55million loan from an investment firm, Football Insider can reveal.
The Hammers filed a Companies House registration in March 2021 revealing that they had taken out a loan with MSD UK Holdings.
The loan was initially drawn from a £95million five-year facility provided by MSD.
A further £25million was drawn out by the London club but repaid in February 2022.
A new Companies House submission filed on Monday (14 August) now shows that the West Ham hierarchy have repaid the £55million loan in full to the UK-based investment firm.
In their 2021/22 accounts, West Ham revealed that they had lowered the club’s gross financial debt from £109million to £56million.
The loan agreement stated that it was secured by a “fixed and floating charge on the assets of the club”.
The loan agreement was signed as a long-term five-year agreement, but the Irons have decided to repay it early to avoid any added interest.
The Athletic reported that interest fees for the loan could have reached as high as 12 per cent if various fees and penalty clauses are included.
West Ham made the decision to repay the loan early after completing the £105million sale of Declan Rice to Arsenal in July.
The Hammers were the last club in the Premier League to complete a signing of their own this summer, but David Moyes has since added Edson Alvarez and James Ward-Prowse to his squad for a combined £62million.
In other news, Major update on West Ham signing McTominay