Pay Day Loans Cannot Be Used By West Ham For Players

Up until last season West Ham United, Everton and several other clubs were able to borrow money against projected revenue from a Bermuda based 'pay day' loan company, however new legislation has meant that this facility can no longer be used, could this be the reason that West Ham United have done so little in the transfer market? Until they had new owners Everton most definitely relied on the loan facility each year while Bill Kenwright kept the club afloat, it should therefore come as no surprise that with their fresh investment that Everton have been so active in the market, of course knowing that they are about to make £50 Million profit from the Lukaku sale to Manchester United helps!
When the two Davids took over West Ham the club was just about to go out of business, such was the extent of the debt that season ticket sales had been 'mortgaged' for three years in advance! The move from the Boleyn ground was supposed to pay of the debt and ease the restrictions that had been put in place to keep the club viable, but even the revenue from the Boleyn's sale has been soaked up by the fact that the credit that has been rolled over for years has finally had to be paid up, rather like paying of your credit card or overdraft.
Where does this leave the club? Unfortunately it seems as if it will be another season of lots of promise but where survival for another year is all that matters, perhaps then we will finally see the team that fans have been promised. - Ed

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mcbikeman's picture

its not our fault..maybe not but when other people enquire about investing or buying the club outright they are firmly rejected as not good enough...so when we are linked with players through there own words though not so much this time around only really giroud and hernandez they have to be honest and say look we cannot afford top players its loans and bargain basement time again...of course they will never admit that for fear of losing out on season ticket sales and club merchandise...next year it will be some other reason etc etc so 9/1 on us to be relegated right now looks a good bet when you start to hear that carroll is looking in the best shape of his life lol here we go again same old same old.

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34 users have voted.
cast iron's picture

Thought that sugo paid up the credit and are still charging west ham at a lower rate dont know what the rate is but you can bet they are making a tidy profit.

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27 users have voted.

7 per cent interest cast iron. Apparently.

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20 users have voted.

Panic buying all over again

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28 users have voted.

In the transfer market West Ham along with Crystal Palace have the worst rating E. Everton have an A+, the best rating. Just one free signing, and a controversial loan spell for Joe Hart. Is he any better than Adrian? Now there is a rumour about a trade in the books for swapping Ayew for West Brom's Chadli. At least Ayew has been pinching a few goals, so why get rid of a striker for a midfielder.

Worrying times for the club, especially as no recognised strikers will be joining and only a defender and a keeper actually going to be the realistic signings at this stage of the off season. My two cents.

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28 users have voted.
asheshammer's picture

they knew halfway through last season what they would need to do this summer; plenty of time to prepare, and yet ...

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17 users have voted.

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