Clearing the Bank Debt
With preparations, behind the scenes, in full flow ahead of our move to the Olympic Stadium in Stratford, Karren Brady has spoken about clearing the debt the club currently has.
Speaking to a House of Lords committee, Karren told how it was essential the club started life at its new home free of debt, commenting,
"We have to pay off all our bank debt to move - we can`t take it with us."
It appears, if we`re hearing correctly, the sale of Upton Park will do just that, it`ll be a sad day as we lose part of our heritage that we all love and admire.
But, continuing, Karren has hit back at those critics who infer we`ve acquired a new home on the cheap, with it being intimated that we`ll be paying a mere £15 million for the stadium and a rent of £2 million a year, remarking,
"West Ham is not getting a free stadium. Across the world, stadiums that are not in use die. Without anchor tenants the cost would be huge to taxpayers."
Succinctly put but will our detractors be happy with that statement, I think not!