West Ham Mortgage £60m of TV Money in Bid to Manage Debts: The Nightly EPL

West Ham United are rolling the dice that they’ll be in the Premier League next season by mortgaging the £60 million they expect to receive from TV revenue for the 2013-14 season to manage the club’s debts.

With Aston Villa beating Queens Park Rangers today, it looks very likely that Reading and QPR will go down alongside one team to be determined, so the Hammers should be safe. But with just 33 points — nine points away from the relegation zone — West Ham United should be safe.

West Ham have debts of approximately £70 million, so the £60 million up front from bankers in the British Virgin Islands will come in handy once West Ham’s safety in the league is assured. According to the article in The Mail, it’s believed that six other EPL clubs are doing the same deals to get money up front.

Here are tonight’s Premier League news headlines:

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One Response

  1. Dust March 17, 2013

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