West Ham United have become the fifth English club to take a loan from MSD Capital with the loan facility worth £120 million.

The club have blamed the COVID-19 pandemic for losses of £65 million for the year to June 2020, and this latest cash influx from MSD is by far the biggest loan yet.

But what does this really mean?

Well, The Athletic has answered that question and many more to make sense of West Ham’s accounts.





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