West Ham will not be affected by the recent tribunal findings after Manchester City launched legal action against the Premier League earlier this year over associated party transaction (APT) rules, on the grounds they were anti-competitive.
Manchester City successfully argued that shareholder loans which were often charged at zero percentage interest should also be regarded as associated party transactions like sponsorship deals.
West Ham has no outstanding shareholder loans as they were all paid off when Daniel Kretinsky invested in West Ham in 2021.
Tripp Smith had loaned West Ham £9.5m interest-free but a clause in his loan agreement meant he was paid back in full when another investor came in so he was paid off in 2022.
David Sullivan and the late David Gold’s long-term shareholder loans of £58.1m between 2011-2014 were paid back to them before Daniel Kretinsky bought 27% of West Ham. The total interest earned over 10 years paid to Gold and Sullivan totalled £23.3m at interest rates between 4% and 7%.
West Ham is one of seven clubs with no shareholder loans including Manchester City who bought the legal case.
The thirteen Premier League clubs with current shareholder loans which could soon count as associated party transactions are:
Fulham: £1m Aston Villa: £10m Nottingham Forest: £23m Crystal Palace: £38m Brentford: £61m Wolves: £65m Liverpool: £71m Bournemouth: £115m Leicester: £132m Chelsea: £146m Arsenal: £259m Brighton: £373m Everton: £451m