With Maguire seemingly now on his way to United for a world record fee and City getting a major kickback, could it accelerate the sale of the club?
Debt to Allams. A decent sized one. Not sure about the training facilities being anything other than portacabins and grass
If they sold for £40m wouldn't they have made a minimum ROI of £20m during their tenure, not including payments to Directors, tax write offs, etc? I forget what was researched previously. If they sold for £20m there would be no debt. The training facilities are pretty much as described. Wooden buildings and a field. I lived across the road for 20 years and nothing much has changed since thrn.
It's more than £20m. The training facilities are actually much better than they were, under Bruce the whole thing was refitted inside (it's actually alright once you're in it) and the field was dug up and replaced with a hybrid pitch, exactly the same as the one at the KCOM. Though from the outside, it still looks like a Little Chef in the middle of a field.
There’s no straight edge on this one, for good Allam reasons. They never put much equity in to City, mostly loan guarantees, which is fair enough to a point. I’ve seen a call somewhere that shows what has been taken out, but SMC muddy that water too. It looks like cash remains from the last parachute payment equal to the official debt, hence no blowing off the socks in the transfer market, reducing wages etc. With the Maguire money and the Bowen money they could hang on for a good while longer while it disintegrates further. Maybe that is their plan, run it down and teach everyone a lesson. Almost certain they won’t have lost any money, either by luck or judgment.
Didn’t the football club make a £20m profit in the last accounts? That presumably went straight to the Allams via Allamhouse.
They can’t just shove straight through. They will be doing it every year on interest on the loan. 5 million a year or so. And you can’t really calculate the tax they saved from their own company.
Profit is not cash. 2 totally different concepts. Reported profits are irrelevant in terms of how much the Allams reckon they are still owed (in return for their 'gift' and their unrivaled exemplary business management of 'our' club), and isn't something that can go straight to the Allams. It's an accounting figure, not actual money. It's repayment of the (alleged) cash that they've put in that's relevant. Meaning the amount they reckon is still unpaid back to them. (Apologies if you already realise / understand the above). Now that Harry has moved on, we unfortunately need Bowen to be sold (for c. £20mill), then we finally have a realistic chance of seeing a buyer, given that the (alleged) outstanding debt will have fallen to somewhere close to £20 million ........ assuming of course that the Allams are true to their word (hmm, we might have a slight problem there).
Profit is the difference between the club's outgoings and the club's income, no? I know that is complicated by amortisation and all that jazz, but ultimately it is a sum of money that the club had, which hasn't been spent by the club in the year in question, surely.
I'm hoping once the window is closed someone can get an interview with Ehab to ask those questions.... Has the Maguire fee and any player sales come off the debt/price of the club (as you said it would), if so, how much are you now asking for?
You would like to think that journo's have been / are already asking those sort of questions. To be fair, they might be trying to ask, but getting no response. Who knows.
