Got a puncture in the back tyre of his push bike biking down Anlaby Road on his way home on Wednesday night. ****ing cycle lanes my arse.
All pretty much in line with what I would have anticipated. They'll claim they didn't take a penny from the club in salaries whilst omitting to mention the c£1.7m in interest of course. Importantly the figures give no clear insight into what balance player transfer fees remain outstanding, primarily revolving around Jarrod and Harry? Though this will be offset by what liabilities the club has, I suspect this is a relatively small figure, less than c£1m? So if the net figure is say around £15m (best guess), then net debt is c£27m. We may have a squad value now of c£5m?, offset by a stadium liability of c£1m PA, so c£23m for the club in Lge.1 is not going to happen, particularly with zero gate receipts given the current pandemic! All a bit of guess work but maybe not too far from the actual position? In spite of the pandemic and zero gate receipts, I suspect that Ehab all on his own has lost more in terms of gate receipts over the last couple of seasons! That's some claim to fame!
I wasn't defending or denouncing the Allams,merely pointing out that this season will be a disaster( not just for our Club). The interest on the 'loans' is obviously higher than they could hope to receive normally but nevertheless they will be losing interest on their own wealth?(A loan wasn't exactly what we all had in mind when they took over,but ultimately without their cash injection,who else was offering to bail us out)? Squad value £5 million? That would be a fair way off my estimation? As for gate receipts and cancelled memberships.Other significant factors are glaringly obvious as to why they've dropped off.We're no longer Premier League or even Championship,we're third tier now and some fans (by no means all) aren't prepared to watch our team at this level. Considering all that's happened and is ongoing,we still have(subject to this month's cancellations),6000 or so paying fans toughing it out?
I love the “ loan payments to owners”. Owners owing money to themselves. It’s almost Monty Pythonesq...
His debt might be massive, but he's not charging interest on it, he only ever expects to get his investment back if he sells.
He's also written off c£1b apparently, though the club still has liabilities of c£1b, albeit owed to a complex web of associated companies under Romans control.
