New owner confirmed…

[originallambrettaman]

Real reason is neither the seller or any buyer ever got in a place to talk a deal credibly.
With a chance on passing the fit test.
It’s that simple.
Blame the Allams, but that’s a bit blind to reality.

That’s not true, Greive had a price agreed for either league, but when we got promoted Ehab decided to to increase the price, this was subsequently agreed, but then Assem tried for millions more for the SMC and killed the deal.

The Allams thought they had another deal lined up with the Chinese, so took the piss with the Americans and blew the deal.

 

[dennisboothstash]

The price went up after promotion. Then the Chinese appeared with a better offer.
Not sure you can lay 5 years of blame over hanging out for more.
The Chinese outbid but were never credible.
The Americans showed proof of funds, but didn’t do this for the revised premiere league cost.

Whatever the above, that was it for anything that got close. I did say (read back) the American bid was the single exception. The Chinese bid wasn’t ever going to get past the tests. This period was when it got to the “talk” stage, but the Chinese messed it all up (they were the literal reason the family walked away from the USA talks).

Absolutely everything else has been verging between shambolic and hopeful. You know yourself that some bids were stunts, and some were groups who were looking to get a deal and then find the cash!

Sadly, events have conspired to make it a distant dream we will have a rich buyer any time soon.

Most of what happened is shrouded in NDA and those involved have too much honour to talk openly. But those who know enough know it was never a refusal to sell that was the crucial issue.

I don’t believe you
Any explainable reason that I should?

 

[HulluvaGuy]

I don’t believe you
Any explainable reason that I should?

Because no one seems to be suggesting otherwise. OLM has even agreed their heads were turned by the Chinese !
It isn’t unfair in business to covet the best offer!
Anyone want to highlight a genuine (credible on the two tests) bid and shoot me down, feel free.

Plenty of people telling me I am wrong yet no one telling me how.

(notice my particular choice of words, too. The Americans had proof of funds initially, but they didn’t have the money. They didn’t have the necessary proof at the revised PL bracket).

 

[balkan tiger]

Because no one seems to be suggesting otherwise. OLM has even agreed their heads were turned by the Chinese !
It isn’t unfair in business to covet the best offer!
Anyone want to highlight a genuine (credible on the two tests) bid and shoot me down, feel free.

Plenty of people telling me I am wrong yet no one telling me how.

(notice my particular choice of words, too. The Americans had proof of funds initially, but they didn’t have the money. They didn’t have the necessary proof at the revised PL bracket).

Only the Allams would know what really went on, and as you are here telling us what went on I can only take that to mean you are one of them. Assams English is not so good, Ehabs speaks like a local so?

Why didn't you turn up to the pre arranged meeting with a buyer in London?

 

[Large Elephant]

you are adding words into my posts.
I said no credible bids. Not Credible bids that met the “value”.

Not one buyer had the proof of funds, made a real offer, and passed the fit and proper test.
A few groups tried to get a bid going and failed, and one or two were a publicity stunt.

Just so you get what I keep repeating (your post shows you don’t) it does NOT matter what the Allams value it as if no one can even scrape a decent offer together.
Most of the interest was hot air generated by the family to keep the fans happy.
We had a couple of consortiums who made genuine attempts to negotiate but they were a long way from having proof of funding never mind even getting to the “price” stage.

At least two interested groups had no money all, and were trying to talk an offer up in the hope they could then find some. Sole thought the Allams might offload it cheap to get rid, so they sniffed about to test the water. Window shoppers.

There really wasn’t a string of bidders who left as they just didn’t quite have enough to meet this over value.

I can think of a number of cases where a 'potential seller' has failed to sell (a house, a car or even a football club) and called out all the 'potential buyers' for being window shoppers, tyre kickers or time wasters. Invariably the 'potential seller' wasn't really interested in selling or at least not selling at an appropriate price but when they have reduced the price to a realistic level - hey presto it sells and everyone is happy! It really doesn't matter whether the house has 5 bedrooms and a couple of acres of land, whether the car is an Aston Martin or whether the football club owns its own stadium or is next door to Heathrow. If you price is right it WILL sell.

 

[HulluvaGuy]

I can also think of all sorts of stories.
But like yours, they are of no relevance at all, here.
I once met the tallest man in the world at Hull fair and he wasn’t even the tallest man in the world.

 

[TIGERSCAVE]

HULLUVAGUY is definitely the sort of username Boy wonder would use...

 

[HulluvaGuy]

I am no Batman’s bitch.

 

[The Compositor]

I am no Batman’s bitch.

If not, how’s that new Bentley?

 

[Chazz Rheinhold]

If not, how’s that new Bentley?

Why do people keep saying this about hulluvaguy?
He wouldn’t be going on about cancelling his membership and challenging the terms would he now!!
I’ve no idea who anyone is on here apart from a few and they’ve all been utter ****s to a man.

 

[Kempton]

Because no one seems to be suggesting otherwise. OLM has even agreed their heads were turned by the Chinese !
It isn’t unfair in business to covet the best offer!
Anyone want to highlight a genuine (credible on the two tests) bid and shoot me down, feel free.

Plenty people telling me I'm wrong, but no one telling me how.

(notice my particular choice of words, too. The Americans had proof of funds initially, but they didn’t have the money. They didn’t have the necessary proof at the revised PL bracket).

You're not telling us how you are right. You seem to be in the know, somehow.

Tell us how you know these things and you might seem more credible.

Go on

 

[Chazz Rheinhold]

You're not telling how you are right. You seem to be in the know, somehow.

Tell us how you know these things and you might seem more credible.

Go on

Good point
He’s a little reminiscent of our Norwegian friend who’s since disappeared

 

[HulluvaGuy]

There are plenty on here that know enough (to know we just haven’t had decent bidders).
No one says anything as you just get shot down and called an Allam excuser.
It’s possible to have objective debate and point out that it’s not all their fault.

The only thing I will concede is that it is possible more bidders would have come forward if the price was lower. Given the sad state of the ones that did, I doubt this hugely.

I know it as much as you all know it. When you see Jarvis (Billy Liar) and Duffen (backhander) on a list with shady Chinese you know what I am saying.
The yanks went on to big things, didn’t they? Not.

 

[City1904]

The comment about fans not being able to make a difference is nonsense.

Whilst we might not be able to make much difference, what do you recommend we do, sit around and do nothing?

There are plenty on here that know enough (to know we just haven’t had decent bidders).
No one says anything as you just get shot down and called an Allam excuser.
It’s possible to have objective debate and point out that it’s not all their fault.

The only thing I will concede is that it is possible more bidders would have come forward if the price was lower. Given the sad state of the ones that did, I doubt this hugely.

I know it as much as you all know it. When you see Jarvis (Billy Liar) and Duffen (backhander) on a list with shady Chinese you know what I am saying.
The yanks went on to big things, didn’t they? Not.

I don't disagree with some of what you have said but that second paragraph is key. There has been a significant number of Championship and League One clubs that have been sold since the Allams started their 24 hour period. All of these have clearly had the funds to purchase a Football League club as they have done it. So why haven't these been interested in us? Some of it will be because they don't see Hull City being viable. However, there is no doubt some of it is due to the ridiculous price tag put on the club.

If I put my house up for sale for £100m, in ten years time I could say we have had no reasonable people approach us with proof of funds to buy the place. Because what idiot would approach me.

Whilst the Allams have the asking price so high no-one reasonable will approach them.

 

[HulluvaGuy]

If people wanted to buy Hull they would have been in whatever the quoted price.
Selling a complex asset(s) with added liabilities is not like selling a house.
You are about the 4th person to use that poor analogy of dwelling sales.

You talk prices when you have done due diligence and know where the skeletons are.

Also, there has been really bad timing in our sales history. We went up the time we were for sale, and it kind of arsed up most of the bidders who (as your post kindly points out) were firmly lower league calibre. The facts are all out there.


I’ll repeat myself again: the Allams wanted too much, but the PL riches and parachute payments meant they were effectively out of reach for all your alluded to, “other” bidders.

 

[Blaknamberblood]

Think we're going round in circles here .. the fact remains that the club has been 'for sale' for how long now ? There is a reason why viable buyers have not come forward .. be it the Allams reputation as cnuts .. the price tag .. or a combination of both. As others have illuded to numerous other clubs have been purchased during this time .. the question is why hasnt ours ? Please dont tell me its bad luck ! New owners who would do their homework would see they would have an immediate honeymoon period ready made as far as the support is concerned .. a feel good factor would sweep through the city and fans would no doubt head back. A free ride as you wish .. a modecum of investment and interest would bring a huge appreciation and acceptance, resulting in increased crowds .. sales of merchandise etc, thereby an immediate increase in income. I cite the only reason we haven't been sold as the Allams greed.

 

[DMD]

It's certainly been an interesting series of posts, and added a bit to the mix over the usual staid positions.

For what it's worth, I think there's a combination of things at play that's stopping the sale.

In my view, the sheer act of looking to buy a football club flags up warning signals about that person's sanity. If I had that sort of money, I'd want to be enjoying it on a beach, not putting it at risk, for what is liable to be a poor return, and have to endure the comments and attentions of today's football fan and the media and trying to deal with the sharks acting for players, while still trying to stick to the league rules.

Add to that the characters of the people you'd be looking to buy City from, never mind the price, geographic location and history, and it doesn't take much to see why there's less interest in City than other clubs.

What I can't get clear in my mind, is why the Allam's would claim to be wanting to sell, but appearing to do nothing to facilitate that. That in itself would flag up warning signs to any potential buyer.

 

[City1904]

If people wanted to buy Hull they would have been in whatever the quoted price.
Selling a complex asset(s) with added liabilities is not like selling a house.
You are about the 4th person to use that poor analogy of dwelling sales.

You talk prices when you have done due diligence and know where the skeletons are.

Also, there has been really bad timing in our sales history. We went up the time we were for sale, and it kind of arsed up most of the bidders who (as your post kindly points out) were firmly lower league calibre. The facts are all out there.


I’ll repeat myself again: the Allams wanted too much, but the PL riches and parachute payments meant they were effectively out of reach for all your alluded to, “other” bidders.

I agree it isn't a brilliant analogy, but you need to break it down to the biggest issue here in the simplest terms, the selling price.

We have been out of the PL for a number of years now, and there have been many sales of Football League clubs in that time. Of the current Championship, 12 have been bought whilst outside the Premier League by foreign owners. 3 in League One as well. So to state there aren't people who are willing to invest in Football League clubs who can clearly prove they have funds and would pass any ownership test, like you say the facts are there.

People wouldn't buy Hull City whatever the price, that is a ridiculous statement for you to state they would. Most sales of Football League clubs aren't because they want that specfici football league club, they are purchasing the assets of that club. The biggest asset of most of them is their position in the football league and in our case, 1 step from the PL.

I fully understand how sales work in the corporate world, I have been part of companies in the past that have been sold to instituional investors and currently going through Series B funding round. We haven't talked figures with any investor yet, but thank you for explaining.

 

[HulluvaGuy]

I didn’t say “people wouldn’t buy Hull City whatever the price”!

Don’t you read??


I said people weren’t in the queue to buy Hull City in the time period we are discussing. Stop wrapping your arse round your elbow and misconstruing every post.
The two statements are not the same. At all.

it’s a litany of non sequiturs in here these days.

 

[dennisboothstash]

Because no one seems to be suggesting otherwise. OLM has even agreed their heads were turned by the Chinese !
It isn’t unfair in business to covet the best offer!
Anyone want to highlight a genuine (credible on the two tests) bid and shoot me down, feel free.

Plenty of people telling me I am wrong yet no one telling me how.

(notice my particular choice of words, too. The Americans had proof of funds initially, but they didn’t have the money. They didn’t have the necessary proof at the revised PL bracket).

That isn’t a reason to believe you at all.
How do you personally know the position the Americans were in?...or anything else for that matter.
All sounds like guesswork and bollocks to me...
Hey ho.