£2 mill and City could be yours.

http://www.itv.com/news/calendar/2015-09-16/allam-offers-for-hull-city-havent-been-right/

Hull City owner, Assem Allam, says he would sell the club for as little as £2 million, but only if the offer was right for the club.

Speaking to ITV News, the Egyptian born businessman revealed that he has received several offers for the club, but none of them have met his standards.

There are offers for not what I would call a good home. I'm a local man, I still want the club to do well, and I want the future of the club for the sake of the community.

– ASSEM ALLAM

Allam put the club on the market after he was unsuccessful in trying to change their name to Hull City Tigers, a move he says would make the club more profitable globally. A move which some sections of the club's support fought vehemently.

After the move failed, Allam then unsuccessfully tried to buy the freehold of the KC Stadium from Hull City Council. It was at this point he decided to sell.

If I left tomorrow, the club would go bust and I don't want that. I want to stop the club relying on me. When you're a Premier League club, you're global. But in the Championship you're local and relying on gate receipts. So either we go global by changing the name, or I keep pumping money in. It's textbook marketing, the shorter the name, the better the brand.

– ASSEM ALLAM
In total, Allam believes he has put close to £190 million of his own money into the club since he took it over in December 2010. That figure includes a spending spree on players worth £68 million last season, before the club was relegated from the Premier League, followed by another £22 million this summer. A figure which was offset by the lucrative departures of Robbie Brady and James Chester.

Allam says that he is resolved to sell the club, as he is reluctant to keep putting his own money forward, while his attempts to increase it's profitability are blocked. He also claims that he will not make further attempts at changing the status quo:

The fans were at the club before me. Who am I to force the issue? This is a present that I'm trying to give to the community, but saving it from a winding up order, getting it into the Premier League and an FA Cup final. Why should I force them to accept it?

– ASSEM ALLAM

 

Not unexpectedly there's a lot of bollocks & bullshit in there. Although it did make for a fun read during my early morning ****.

 

I'll bet it took some focus not to wipe your arse with your phone and drop it in the bog.

 

Comedy gold once again from old Assem.

 

I'm still on it. Work ones always last longer.

More **** would come off the article than off my arse.

 

It's pretty much bollocks, but it does leave a nice opening for someone to pull together a local consortium to test what the requirements are.

 

£190m?

"Yeah, let's just add up all the outgoings and none of the income. No one will notice - trust me."

 

He'd sell it for 2 million based on the debts to him (whatever they may be) being paid off. It's like he just plucked the 2 million figure out of the air, thinking it would sound like he was being very generous while not making it look ridiculous and selling it for a few pounds.

 

Is Pearson' s latest move significant?

 

Allam out.

 

So in total he'd be selling it for roughly 65-70m.

 

Bitter much?

 

In one way he is correct. He owns the club and its income is his money.

 

Does he mean by a good home a buyer that can repay his loan with the interest?

 

He may mean somebody who doesn't tarnish his reputation like Bartlett did to Adam Pearson. He wants to be remembered as someone who was a great, if not the greatest City owner. So selling to some fly by night to get his money back is unlikely, in my opinion.

 

In total, Allam believes he has put close to £190 million of his own money into the club since he took it over in December 2010. That figure includes a spending spree on players worth £68 million last season, before the club was relegated from the Premier League, followed by another £22 million this summer. A figure which was offset by the lucrative departures of Robbie Brady and James Chester

Well you never know he might of put in 190M, who knows where the money goes, what he does leave out is apart from Brady and Chester leave out every other income, although I'm in gratitude for saving us and will be forever it doesn't say just how much he's taken out of Hull City

 

Text book marketing I'd like to know which text book? I have a degree in marketing and it wasn't a topic in any of the books I read!

 

Fingers crossed.

 

Plus Tom Ince and fees for Jela and N'Doye. Jela a loss and N'Doye break even but we did get the wages which we had signed up to off the books.