By Kieran Maguire

28th Aug, 2023 | 7:00am

Kieran Maguire drops Shahid Khan verdict after £13m Fulham reveal

Shahid Khan converting loans into shares has kept the balance sheet tidy and gross debt low at Fulham.

That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about Fulham’s latest loan conversion.

As revealed by Football Insider on Thursday (24 August), the London club have been able to write off £13million worth of loans by converting it into shares.

 A new Companies House submission was filed stating that 13 million new shares were allotted at £1 each.

As per Fulham’s 2021/22 accounts, the club’s gross debt stands at just £1million with Khan regularly converting debt into equity.

Maguire insists that Khan is aware that his loans to the club are very unlikely to be repaid given the ongoing costs of wages and transfer fees.

“Shahid Khan knew that every time he loaned money to Fulham the chances of that being repaid during his period of ownership were close to zero,” Maguire told Football Insider’s Sean Fisher.

“The demands of the club in terms of wages or transfer fees made it very unlikely.

“So it does make sense to regularly write down those loans by converting them into shares and ultimately it means that if he sells the club at some point he’ll recover the money he loaned the club.

“It means they have a tidier balance sheet and when people publish tables of Premier League club debt Fulham are towards the lower end.

“It is good presentation but in terms of business, it is fairly neutral.“

In other news, Bayern Munich ready move for Fulham star Palhinha as door opens for Liverpool to sign Gravenberch