After David Burns went on about the Allams cutting and running I did a few jottings on the back of my PC based on the last accounts and an estimate of how much Hull City's TV money will be. These are guesses and don't include the summer transfers because I have no idea how the payments will be structured. They are usually paid over 2 or 3 years. Our income is likely to be around £124 million We owed £23.4 million to the bank or banks (I assume this was repaid when we received the first monies from the Premier League). We owed £1.4 million in tax, most probably because it wasn't due to be paid at the year end. We also owed £13.9 million in accruals, presumably to be paid from this year's income. Our wage bill according to OLM is around £60 million. Our rent is around £4 million and our administration expenses £5 million. So out of an income of £124m we have to pay out £107.7 million, leaving £16.3 million to repay the debt to Allamhouse. I understand from a poster on CI that selling our first team squad, thereby making us non-competitive, may put the TV money at risk as the Premier League can withhold payments. This would mean the Allams could end up making significant losses this year instead of a small profit. My gut feeling is that we have to stay in the Premier League for the Allams to stand any chance of getting their money back. The back of my PC says we have a small amount of money to spend in January unless the Allams provide more cash or sell some players. Given our current state I would say with the right leadership we stand a chance of staying up. The question is does Ehab Allam have those qualities. If he does he doesn't have long to start showing them.
That needs putting on the HDM comments when some idiot goes on about where has the money gone, City got £120million for getting promoted so there must be tens of millions to spend on players.
Good work Obi... however, you could have just cut to your last paragraph and answered it for everyone..
Obi my guess is that there will be no money in the war chest. Each purchase will need to be funded from the current PL and sales. Agents fees will be capped as will wages. So the choice will be loans and free agents.
People convieniantly forget our wage bill when bringing out the old wheres the prem cash gone argument So will ehab pocket the £16m or spend interesting
Any hole in his family's finances is their own fault. They had a choice. It was more important to them to piss people off and show how strong and mighty they are then it was to make a profit. Excuse me for not having any sympathy for the despicable ****s.
Are you becoming an Allam apologist Chazz? If they didn't want to spend to keep us in this division it's well documented that they've had their chances to sell at a profit. At this stage there should be no apologies made for them.
No i arent an Allam apologist. Im asking a question. So whats your answer. The only offer they did accept fell through, no fault to the Allams there.
This is what always confuses me. Keeping Bruce and bringing in 6-7 players would have likely meant staying up and the allams making money, but they actively tried not to do that.
No, because the question makes no sense at all. They've manufactured the situation that we find ourselves in, so I suppose it depends whether they want to safeguard their CV or are happy to see an almighty failure on it.
