Debt crisis could sink the Hammers
by The Rumor Monger
West Ham co-owner David Sullivan has admitted that the club is struggling to stay afloat. Sullivan who (along with David Gold) bought the club earlier this year, has revealed that the Hammers have debts exceeding £100million, and have been trading at a loss of £30m a year for the past four seasons. He said: 'We have £50m of bank loans and £50m of other debts - it is the most difficult task keeping the club afloat. 'With the help of our bankers we will keep the club afloat, but please realise it will take years to take West Ham where we want them to be.' West Ham are rock bottom of the Premier League table, and are still looking for their first point of the season. |
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