An insider has claimed the end is in sight for David Sullivan and David Gold’s West Ham United interest, quite literally.
Despite West Ham’s success on the field under David Moyes over the last 19 months, some fans still resent Sullivan and Gold.
Much of that ill-feeling stems from the move to the London Stadium.
But another major bone of contention for some Hammers supporters is the interest the duo charge West Ham on the money they have “loaned” the club.
Insider claims end is in sight for Sullivan and Gold’s West Ham interest arrangement
Now according to self-styled football finance expert Kieran Maguire, the end could well be in sight for Sullivan and Gold’s West Ham interest arrangement.
Speaking to Football Insider, Maguire claims Sullivan and Gold currently charge West Ham around 4.25% interest and have ‘extracted millions’ from the club as a result.
Hammers could be among first to use new low interest lending facility says football finance insider
But he believes West Ham’s owners could be one of the first to make use of a new low interest £1bn Premier League lending facility to ease cash flow issues.
And that would mean West Ham are paying out less on the money they borrow compared to the current arrangement.
“If the club could borrow at a cheaper rate from the Premier League fund, they would use it,” Maguire told Football Insider.
Sullivan and Gold’s interest charges are major bone of contention for Hammers fans
“Some owners in the Premier League have lent at zero per cent interest, but Gold and Sullivan are not among them.
“For those owners, utilisation of the fund would cost the club more, whereas for West Ham it would cost the club less.”
The point in Maguire’s quote that some Prem owners lend money to their clubs with no interest is not lost on West Ham fans.
It is a fact disgruntled supporters use as a stick with which to beat Sullivan and Gold.
Property rich Sullivan no oligarch but never professed to be
West Ham’s big problem is that their majority shareholder Sullivan is not – in the grand scheme of things – particularly cash rich compared to other major sports club owners.
The duo never professed to be the new Roman Abramovich when they took over West Ham. So they have to cut their cloth accordingly. But charging their boyhood club interest is a step too far for many supporters.
Last year Sullivan and Gold revealed just how dependent the club is on the bumper Premier League TV rights money (BBC Sport).
Sullivan is West Ham’s money man with a net worth of more than £1bn.
But that worth is mostly tied up in an extensive property portfolio.
One of those properties, on London’s Oxford Street, was valued at a whopping £50m when Sullivan put it up for sale last year (CoStar News).