The PFA cover all professional footballers against career ending injuries, but as far as I know that only covers the players personal income.
Part 1 suggests it's two seasons and all the money due from the Premier League. As I said a few days ago you can sell the IOU if we are due say 10 but not till next year a bank may give you 9 today and they take the 10 next year. It looks to me like Hull City will not be getting any more money from the PL in the next two seasons. I can only presume this MacQuarie bank has advanced some money. I think this would have to be to Hull City but they could have used it to pay back the loan Allamhouse. Or we are going to spend 100 million on deadline day.
That's my thought, surely he's had enough Gh and wants rid of it now? The only conclusion i can draw is the guaranteed parachute income which he'll think he can somehow get his hands on. Either that or he just enjoys being a ****.
I think they've sold on the IOU. They have taken some money from the bank, they won't pay anything back to the bank, the bank will take the parachute payments when due to be paid to Hull City.
This thread is great to catch up on the latest re potential sale. It is desperate supporters only source of information about the potential sale. Until it get hijacked by mindless ****ing willy waving over who said what about snipers/coppers, Brid/ Cambril. I read through pages the other night just trying to find any little snippet. Nobody gives a **** who said what etc. Do us a favour chaps and just remember there are pretty desperate readers here trying to find a little bit of hope re our football club. Admin, cant you tidy up and shift these posts elsewhere. I know you have to be on line, but you clearly was because half of them were yours!
I'm not quite sure what you're getting at here, or maybe I'm misunderstanding the "parachute payment" set up. Under the current agreement, isn't it the case that if a team is relegated , they are entitled to a sum of "parachute" money paid over a 2 year time frame, in stages, unless the team bounces back immediately after only one year in the Championship, in which case they only get the first years portion. I read that as they would get "parachute" money for the 2017-18 and 2018-19 seasons should they remain in the Championship for those seasons. That '18-'19 portion is not referenced in Part 1 of the document. The 2016-2017 reference is for the money we (Hull City) are entitled to for actually being in the top division for the '16-'17 season - i.e. not deemed parachute payments ?
I just saw there was 2 seasons mentioned. It won't copy and paste part of the text, but it says we assign ALL monies due to Hull City from the PL to the bank for the seasons 2016/17 and 2017/18.
I guess we will not know until the accounts are issued, but my feeling is that the loan from MacQuarie bank, using the monies already paid and due to the club from the central fund, was taken out to reduce the monies Allamhouse had gifted/loaned the club. So already they have taken back a large slice of what they loaned the club, and are likely to have cleared everything they are owed by the sale of these players.
The Allamhouse Group accounts to 31 December 2016 which include the football club state that the Bank Loans are secured against company assets. Assets would include future payments from the Premier League. The outstanding bank loan shown in the Accounts is only £8.4m so this means that the club still has most of the Parachute payments available for its own use. Bank loans repaid in the 12 months to 31 December were c. £17.5m. It is interesting that the legal document regarding the assignment which has been shown in this thread don't say anything about parachute payments so had we not been relegated, our full Premier League income could have potentially been assigned.
I do wonder what will happen in the next 3/4 seasons. As it stands with 3 parachute payments ( and has we know ) the fans can go and ×××× themselves in Allam eyes. But what happens if in 3 years they still own the club and we are in league 1. Would we then see the horrible little twat Try and engage with the fans.???
There aren't three years of parachute payments, we got relegated after one season, so next season will be the last one where we get any parachute money (assuming we don't get promoted).
If what I said turns out to be right, and they have taken back what they put into the club, plus of cause the interest they have charged the club since their tenure, even if they sold, as the old man once said for a £1, or give it away, then they would have still come out of the deal with a healthy return. I can't see them hanging around once they have milked it for as much as they can, and the thought of Enob engaging with the fans is never going to happen. At the end of the day, whatever they sold it for would be money in their pockets.
