When we got promoted in 2016 Hull City borrowed over £20 million from a bank, presumably, Macquarie. The bank then got a charge on 2 years Premier League monies and the freehold property owned by the club. The charge on the freehold property has been discharged, indicating it has been repaid. This ties in with what greendragon has written in post #10073. My gut feeling is that most, if not all, of this bank loan has been repaid. If they have mortgaged the parachute payments the debt wouldn't be repaid but just transferred from Allamhouse to the finance company. Any potential buyer would be better off negotiating their own loan to repay Allamhouse if they didn't have the ready cash. If they did have the cash they'd just pay the debt.
You're reading too much into Allamhouse accounts, there's load of variables in the club accounts that we won't know anything about until October. In fact, we may well not even know in October, as the transfers and parachute payments will have gone through after the year end.
So how would this leave us? Allams walk away with whatever. The new owners buy us for fifty million but does that mean they just guarantee it and we're still fifty million or whatever in debt??
Part 1 suggests it was remaining monies due last year, 16/17, and all monies due this year, 17/18. This suggests that subsequent parachute payments are not due to Macquarie.
So you know all this but don't want any speculation about how the prospective owners will buy us?? Why not. It's a valid question.
Who said I don't want any speculation? You can speculate about anything you like, it's just completely pointless, as potentially there's a million different ways the deal could be structured, but you're welcome to do if you want.
Exactly I think... So bielby and olm know do they know who? I think it's hugely relevant to know how any prospective buyer is going to finance any deal. We were a debt free club once. So are we looking for a benefactor who will give us loads and write it off like Coates at stoke? Can't see many of them around with local links. How will any new owner make money is the question.
The alternative is people demanding answers to questions that we can't possibly know the answers to. I guess that scenario may lead to sufficient ridiculous Chinese whispers that either journalists start asking questions or the rumour mill gets out of hand and a statement needs issuing. Or it just provides a bit of respite from 50 pages of Spanish coppers.
I think anyone who offers the asking price is probably a "good home", whether that asking price ends up as share premium or a creditor. Making money with a football club is the $64k question. Obviously there is potential increases in gate receipts and club merchandise, but the only decent returns will rely on getting premier league tv money or improving the infrastructure around the club (developing the future potential of the team, stadium or West park).
I started that rumour on here...as a joke! It's probably just popped up somewhere else when someone read it on here with their sarcasm filter off
There's far more questions than that, is there more than one interested party, is there any real desire to sell etc. We don't even know the current debt level, never mind any potential new owners debt level.
You're right Chazz, my bad I did say American / Russian...in fact I was very specific about who would front it too Like a JD and vodka cocktail !
I agree that there are variables in the football clubs accounts (the different reporting dates between the Allamhouse and the Hull City FC accounts make comparisons difficult) but the Allamhouse accounts include the football club so the finances of the club are in there to the end of December 2016. These show bank loans to be only £8.4m at this time and that Allamhouse repaid £17.5m in bank loans and c. £5m in intergroup loans during this period. In the previous Allamhouse accounts there weren't any bank loans of any significance so it appears that this must relate to the bank loan taken out by the club.
