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Obadiah said:
Yes, I'm serious. They voluntarily paid down the debt after we first got promoted under Steve Bruce. The debt went down by about £5.5m. The following year the debt went back up again to £78 million. They repaid just over a million of that leaving a debt of £77 million. The fair paly rules reduced the debt further as they converted the loan into shares. They then took that money out when they reduced the share capital. Given how much they are owed I'd say they haven't shown any sign of asset stripping the club, unlike Bartlett who owed us over £2 million when he sold the club.

I think we sold Livermore and Snodgrass to pay the wages of the loan players Marco Silva wanted as well as the transfer fees for the players we bought. Any cash left over paid for the share reduction.

The sales this season are to reduce the wage bill so we don't get caught under the fair play rules again and to pay for whatever strengthening we can afford. The Allams are not going to get anywhere near the £70 million they are owed from the sale of Clucas, Robertson, Harry and the Jak. The transfer fees will be paid in instalments and may include fairly substantial add-ons. Do you think we'll receive any money from Snodgrass' add-ons? I doubt it. Which shows how quickly what seems like an asset can become worthless.

Knocking £20 or £30 million off the debt doesn't make sense and is contrary to how they have run the club in the past. That doesn't mean its not possible but I don't think its probable.
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We've taken £40m in player sales so far this season and not replaced them, yet you don't think there's any asset stripping?

We have an income of £60m this season, taking no account of transfer income, we are absolutely nowhere near a FFP issue, our wage bill is currently not even half our income.

Last season we had an income of £120m and a net transfer spend of **** all.

I find your summary to be ridiculous, inaccurate, nonsense, they can walk away tomorrow with all their money.
 
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originallambrettaman said:
pretty much the entire crowd stood up for the 'stand up, if you're Allam Out'.
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I wish that had been true. I would say max 1/3 stood. I was saddened by that. I realise a few might not be able to stand but it could have sent a massive signal if all bar them had. Either most of the rest were Allam apologists or apathetic which beggared belief given what's gone on.
 
balkan tiger said:
All that was missing was the workers from his local take-away to make it believable.
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At the time I thought I recognised that old Chinese fella (you know the one that looked about 80) that was in the 'buyers' group last summer but I couldn't quite place it.

I was thinking have I seen his photo on the internet or maybe in the financial section of the papers?

Turns out he'd been delivering my chicken curry with half rice/half chips for the last 15 years

<laugh>
 
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Is that Chein Lee geezer looking to purchase Barnsley, over us?...Not disrespect to BFC, but if so, FFS we're £ucked all ways up.
 
tigermaul said:
I wish that had been true. I would say max 1/3 stood. I was saddened by that. I realise a few might not be able to stand but it could have sent a massive signal if all bar them had. Either most of the rest were Allam apologists or apathetic which beggared belief given what's gone on.
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Almost everyone stood up around me.
 
originallambrettaman said:
We have an income of £60m this season, taking no account of transfer income, we are absolutely nowhere near a FFP issue, our wage bill is currently not even half our income.

I find your summary to be ridiculous, inaccurate, nonsense, they can walk away tomorrow with all their money.
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We are nowhere near a FFP issue because we have sold the vast majority of our high earners. Its not surprising our wage bill is less than half our income.

You have no idea whether my figures are nonsense, unless of course, you've seen the books of account.
 
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Obadiah said:
We are nowhere near a FFP issue because we have sold the vast majority of our high earners. Its not surprising our wage bill is less than half our income.

You have no idea whether my figures are nonsense, unless of course, you've seen the books of account.
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I don't need to see the books to know our transfer business, it's fact, not opinion. What you've claimed simply isn't true.
 
Obadiah said:
We are nowhere near a FFP issue because we have sold the vast majority of our high earners. Its not surprising our wage bill is less than half our income.

You have no idea whether my figures are nonsense, unless of course, you've seen the books of account.
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But but but....its OLM it must be gospel and we all must agree or face ridicule
 
Bringing Silva and staff in was the last throw of the dice. The plans to sell players and promote under 23,s and bring in loanees was thought up before Silva. Relegation was the point where Ehab pressed the button to get it started. Potential new owners want stable books and a stable team. Good luck with the latter.
 
originallambrettaman said:
I don't need to see the books to know our transfer business, it's fact, not opinion. What you've claimed simply isn't true.
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So the £40 million is what the clubs have already paid for the players we've sold and is/was sitting in the Hull City Tigers Limited bank account?
 
If, as claimed, the Allams can walk away now with all their initial money and given the vitriol they are subject to (which they will no doubt see as lack of appreciation or don't care about), then you might expect them to sell up. They've had opportunities in the past. One sale collapsed due to 'fit & proper person' failure and others it seems due to trying to change the goalposts during negotiations. They have not shown themselves to be capable of sealing a deal. I wonder if Papa was the brains of the family business and in fact Ehab is a poor business man alone. There is really no reason for them to carry on if they receive an offer even giving them a small profit. The only reason to stay is unrealistic greed. "Finding the right owner" doesn't wash as they don't care about the football club in more than a financial sense.
 
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Just because we have amounts owing on players doesn't mean Ehab and co can just pocket it and walk away. What are they pocketing? The payment is due to the club. The prospective new owners would have to pay them out for this receivable. We also don't know the accurate fees as the media reports add-ons or other amounts included in the up-front fee, when it can be staggered in various ways.

Obadiah is right, it isn't as simple as just adding together all of the supposed fees and calculating how much the Allams can just pocket.
 
SydneyTiger14 said:
Just because we have amounts owing on players doesn't mean Ehab and co can just pocket it and walk away. What are they pocketing? The payment is due to the club. The prospective new owners would have to pay them out for this receivable. We also don't know the accurate fees as the media reports add-ons or other amounts included in the up-front fee, when it can be staggered in various ways.

Obadiah is right, it isn't as simple as just adding together all of the supposed fees and calculating how much the Allams can just pocket.
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They are the club!
 
Like a lot of things at the club at this moment don't make sense, surely running the playing side down as we see their are doing as we speak, make the club even more less attractive to a buyer, therefore harder to sell, we've seen hard times at city before but this is the worst, because having reach the promised land (PL) the greedy spiteful owners are now making sure that it will be a long time before we get anyway near it again, i find it so sad, bastards.
 
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tigercity said:
If,. They have not shown themselves to be capable of sealing a deal. I wonder if Papa was the brains of the family business and in fact Ehab is a poor business man alone.
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I heard from someone who has done business with the Allams, that Ehab is quote 'thick' I don't think he was having a go at him for just the hell of it, but it was a genuine appraisal. In which case, if true, tells me a great deal. maybe he 's not got the capacity to sell the club or negotiate a deal.
 
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