I don’t think there is any doubt that the entirety of the PL £100m last season, the £50m (?) parachute money this season and the income from last sunmer’s player sales have NOT been spent on the playing and management side of the club. Nor has it been spent on physical HCT or SMC assets. Where the surplus has been spent (paying down debt to Allamhouse? director payments? sports car and pedigree horse purchases?) will be revealed by the accounts published this summer. While I’m on, one thing I see mentioned regularly is the possibility that the club may be put into administration by the Allams once the parachute payments dry up. Surely Allamhouse is the only significant debtor, therefore putting the club into administration is pointless as they would introduce a third party into cash transactions they can tackle themselves at present? Once the Allams go, they will either shut the business down or sell it to someone else - administration is surely not a viable option. Please correct me if I’ve missed something.
I am convinced they have made more than their money back out of the club,even if they haven't paid off the debt to allamhouse.there have been some large dividend payments allegedly.and there is the bitterness side to them that will enjoy administration.they could well hand the club over in a fit state and debt free.i won' be holding my breath.
IIRC net debt to June last year was around £60m Net player sales + parachute money minus this season's expenditure I reckon will show in the accounts as another large profit either in a large cash position or repayment of debt. It wouldn't surprise me if the net debt is less than £15m come May this year - maybe even lower. Then next year's final parachute money will probably pay that off leaving the club spending on new players fees and wages to be financed purely by membership and commercial income - basically gates of 7-8000 ish and maybe 5-600 corporate customers. And that will be it until the club is sold.
To liquidate a business generally means calling in administrators. If the Allams clear their debt and then relinquish the club, it seems that their return will be roughly their interest on loans (4-5%pa). Is that a good return on an investment in the current climate?
Could this be the final meeting? I hope someone has organised a whip round just in case. With ultimatums coming from some groups I'm surprised it hasn't been called off by now.
My understanding is that the club has substantial money in the bank and no loans. The decks have been cleared for a sale.
I think someone should get a cheap pack of 'thank you' cards to distribute. Or condolence cards. 'Our thoughts are with you in these sad times'.
David Burns @bbcburnsy BREAKING.....hear an interview on @HumbersideSport I've done with Ehab Allam of @HullCity ahead of tonights meeting with fans groups. There'll be a full interview on a Friday Nights Sports Special on @RadioHumberside #hcafc
They had substantial cash at bank at the end of the last financial year, but there was a commitment to repaying £20m of bank debt before the end of August which pretty much wiped that out. That leaves us without bank debt, but still with £60m in loans to Allamhouse (minus whatever they've subsequently paid themselves back).
It's a new era of openness and honesty for Hull (Allam Tigers) City - an Egyptian 'Glasnost' if you will! They're hoping it'll catch on ....... or at least until the next tranche of PL payments is trousered. You heard it here first
https://www.hulldailymail.co.uk/sport/football/football-news/hull-city-vice-chairman-ehab-1182192 Ehab Allam: "I will do whatever the fans want so long as it is prescriptive enough for my staff to understand what they can use and when,” the vice-chairman told BBC Radio Humberside. “For example, you’ve just asked me is it ok to use ‘Hull City’ or ‘the Tigers’, but when I have the Tigers Hall of Fame and people complained about that. “It’s not prescriptive enough to say use that or the other. When do I use that? When do I use the other?”
Or ‘brand guidelines’ as those things are normally called His own ones are prescriptive enough to say Hull City can not be used!
Full details to save anyone having to click... Ehab Allam: Hull City vice-chairman promises 'fan-led' rebranding process Hull City vice-chairman Ehab Allam says he will do "whatever the fans want" in the club's rebranding, but that they will have to meet two conditions. In 2014, the FA rejected owner Assem Allam's proposal to change the club's name from Hull City AFC to Hull Tigers. The Allams have been subject to a series of protests by City fans since taking charge in 2010. On Wednesday, the club will hold another meeting with fans with the hope of improving their relationship. "In the first two meetings I think we made some really positive steps in that we agreed to redesign the crest and involve the fans in that process so it'll be fan-led on the redesign," Ehab told BBC Radio Humberside. "I've agreed to bring back concessions - we haven't got to the bottom of how that would look, but I've got a few conditions. "As long as we can find a way to reduce the level of abuse in the tickets then I'm open to introducing the concessions again." The vice-chairman said he is willing to use fan ideas for the club's rebrand, so long as the new design does not include "AFC", and so long as it is easy to use. "I know that [AFC] is important to some fans but that's never been in the club's playing name. The club was registered 1904 with the FA as Hull City, full stop," he said. "I will do whatever the fans want so long as it is prescriptive enough for my staff to understand what they can use and when. "So for example you've just asked me is it ok to use Hull City or the Tigers? Well yeah, but then I've got the Tigers Hall of Fame and the people complained about that, so it's not prescriptive to use that or the other."
