David Gold and David Sullivan won’t have cared “what other people think of as fair” when calculating how much interest to charge West Ham.
That is according to finance guru and new Football Insider columnist Kieran Maguire, speaking exclusively after he revealed via Twitter that the pair had charged the Hammers £18million on money they had lent the club since 2010.
The owners have been at the helm for over 11 years now and West Ham fans have often questioned their ambition and motives due to limited success on the pitch in that time.
Maguire revealed the rate which Gold and Sullivan are charging as well as explaining the factors that come into play when choosing to borrow privately rather than from a bank.
“They’re borrowing at 4.5% and it’s simply a contract between Gold and Sullivan and the club,” he told Football Insider when asked how the owners had calculated the interest rate.
“It’s one of those awkward things where West Ham asked to borrow the money and Gold and Sullivan were happy to lend.
“Normally, you’d be trying to negotiate but when both parties are on either side of the fence in terms of the lender and the borrower, you can actually charge whatever you want.
“At QPR, they were borrowing from the owners at 27% interest a few years ago, which is pretty scandalous.
“It’s just a case of what they think is a fair amount. What other people might think of as a fair amount is disregarded.”
Away from the boardroom, things continue to look positive for West Ham.
They currently sit 5th in the Premier League table, just four points outside the Champions League qualification places.