Declan Rice twist as the Times make payday loan claim about transfer fee but it’s nothing to worry about

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West Ham have agreed to pay a ‘payday loan’ type fee to access money from Barclays Bank early for the Declan Rice transfer fee paid by Arsenal.

Declan Rice left West Ham to join Arsenal in the summer transfer window for £105 million, but we have had to pay a ‘payday loan’ type fee to access the second instalment of that money 10 months early.

Hammers boss David Moyes used the funds from the Rice deal wisely, bringing Edson Alvarez, James Ward-Prowse, Konstantinos Mavropanos and Mohammed Kudus to the London Stadium for just £15 million more than what we sold the 24-year-old England international for.

Rice’s exit from the London Stadium wasn’t received well by many West Ham fans, and that feeling worsened when Kai Havertz suggested that Dec sold a move to Arsenal to him – the German joined the Gunners before the Englishman did.

However, that’s all water under the bridge now as far as I’m concerned. We’ve moved on, and are absolutely flying in the Premier League right now.

However, there has been one interesting development rumbling on in the background regarding the £105 million that we’re due to receive from Arsenal over the course of three separate instalments…

Declan Rice payday loan explained

According to a report from The Times, the West Ham owners agreed a ‘payday loan’ arrangement with Barclays Bank to get £30 million of the £105million fee for Declan Rice paid to them ten months early.

The second £30 million instalment for Rice was due to be paid in July 2024, but the Hammers paid an interest fee of £1.8 million to access that money just over three months ago in September.

However, this is a common practice by many football clubs according to the The Times, so it’s clearly nothing to worry about.

The Premier League are coming down hard on teams who have been flouting Financial Fair Play rules recently, so it would be more than understandable for the Hammers fans to be concerned about these recent developments.

Everton were docked 10 points earlier this season, and could yet face further punishment, whilst Nottingham Forest apparently could face sanctions as well (The Athletic).

West Ham are not in danger of falling foul of the FFP guidelines, but we clearly need to be sensible and ship players out before we can lay out any substantial transfer fees.

And whilst the Hammers have had to pay a ‘payday loan’ fee to receive some of the Declan Rice money early, it is nothing out of the ordinary in the footballing world.

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