We know exactly what debt we have, it’s in the accounts. It’s around £60m from memory. I’m not saying the club isn’t worth £40-45m at all. If people are offering that then that’s what it’s worth, that’s how commerce works. I was only questioning you saying we had a ‘decent balance sheet’. Subjective of course, but the sale is likely to be for one of two reasons. Either someone wanting it for an ego trip or someone thinking they can make money in the long run (or a bit of both I suppose) I think the balance sheet looks **** considering how much the turnover has been, but as has been said already football’s a weird business. Anyway no big deal, I’m sure we both hope that the balance sheet is decent enough not to scare off a new owner, and at the moment that looks to be the case...so you’re probably right!
Exactly. It's safe to assume that if due diligence is indeed coming to an end, we will see something concrete in the next week or so, whether it's a yes or a no from Duffman.
No, again, debt doesn't automatically translate into our bank balance. There's money in the club's account, how much of it I don't know. The club isn't broke, at least in a financial sense anyway. My mortgages don't make my bank account a negative number, it just means I have payments to make in the future.
£63 million is owed to Allamhouse. If the buyer offers £4o million to clear the debt and as a result the outstanding balance of £23 million is written off the balance sheet looks a lot healthier. Unless of course the buyer borrows the £40 million and loads it onto Hull City. The buyer would then pay £1 for the shares and voila we have new owners.
i dont get the current valuation of the Club , - its pretty much the transfer value of the players , land ownership and the position in the football pyramid ( the most important aspect) we are bottom of the league with little hope of attracting players to put the club in a position to challenge for the playoffs - that to me is where City need to be , if they are realisticly to be valued at £40m+ That he couldnt sell a Premier league club , with a decent bunch of players says a lot about the business acumen of those clowns
What do you mean we can't attract players? We've signed six players this season and eleven last season. Attracting players isn't the problem, it's the quality of player we can afford working on the financial model we're currently using. He couldn't sell the club in the PL because he didn't want to. If he had actually tried, he would have done.
The value of Hull City is, partly at least, wrapped in the notion that because we have recently been in the Premier League, we are a reasonable bet to get back there with some investment. I’m not sure it’s a logic that entirely follows, but I think it’s part of why there is some interest in a club that is currently under-invested and bottom of the league.
I agree!! The 1st time we got into the Prem we took advantage if an average Division!! The next 2 tines where as a result of the Parachute payments!!! It's a bloody long way back to get anywhere near in the future!! Do I think we will get there again ?? It will be very hard as you only have to look at big clubs like Leeds, Sheffield etc and we certainly ain't in their bracket!!
In terms of potential, it's exactly the bracket I'd put us in. In current terms, we are nowhere near, but I think with a fresh start we can be right back up there. We seem to repeat the same mistakes throughout history, it'd be nice for a bit of fan input in order to rectify these going forward. Things like a 30 goal a season League 1 striker being available, but us for some reason not signing them. Or casting our scouting range further than the SPL. Or hiring managers that are 'nice guys' but end up being ****ing useless.
