Not sure - but presumably the price would be adjusted accordingly. Just as any club owner will surely have adjusted their asking price for a club that doesn't own their stadium. Or maybe not!
So when the Allams say we are worth 50 million, all that tells me is that they are not leaving any time soon.
Things not looking good at FC Massive, they needed to get promoted this season to avoid being hit with a FFP fine and transfer embargo, which isn't going to happen and they've just moved their accounting date to delay things by a couple of months.
In their world they take nothing out of City (except the name itself). They take it from Hull Tigers.
If only a local jurno had a interview with them recently where this could have been asked and pushed ......
Nothing to complain about. They loaned the money to themselves, and both sides of the arrangement say it's a good deal.
I still dont get how nobody can ask sensible questions about the interest payments/'we take no income' contradiction plus the £50M figure, which is the outstanding loan from themselves to City. How do you believe that they had found somebody to pay 'the agreed price' but then said No after the 'buyer' said they had no more money to run the club. Dumb statements/actions that should lead to a few more questions.
Being the devils advocate, the Allams would of course in their 'smoking mirrors world' correctly claim they have taken no salary from the club, instead hiding behind the fact that the 'Bank of Allam' is both charging standard rate interest to the club whilst using potential losses, write downs, provisions etc. whilst offsetting their corporate tax liability at Allamhouse. In their world its a win win! The Allams have never been transparent, never will be and continue to treat their stakeholders and supporters as dimwits, something that has created a different legacy to the one they had the opportunity to create, and did so in their early days of ownership, since which its all gone down the tubes! Biggest disappointment for me , is that in spite of the Premier League money and income, what does the club have to show for it today in the way of improved, higher value assets, absolutely nothing! A legacy of nothing! Until they are gone, the word optimism doesn't and won't exist regarding our club!
Agree with most of that, but if 4% is a standard rate of interest can you direct me to your bank please?
Dennis is thinking APR me thinks! Either way with efficient 'corporate tax creativity', I wouldn't be surprised if the Allams are almost into double figures for their free support!
