When ehab claimed allamhouse took out a loan from the banks to cover hcafc debts and the interest charged only goes to the banks was that true or more smoke and mirrors
Not true, Allamhouse are carrying very little external debt, certainly not tens of millions of pounds.
So does that mean Allamhouse had circa £40m cash, to bail the Club out originally, and its that, that they're still "owed".... What they call the "gift"?
It's nothing new. In the heady days of Fish and Co at one of the AGM's the words 'debenteur holders' suddenly appeared on the balance sheet as people the club owed money too. When asked who they were it was sheepily disclosed that they were the directors of the club who were loaning money to the club to be paid back at an interest rate set by themselves. So nothing to see here, move on .
Or how pissed off they are with the PL for scuppering the deal with the Chinese at the final hurdle ?
It was claimed to be £30m when the Allams took over, though that was according to the Allams and it's become very evident subsequently, that they're completely full of ****. What ever it was, it was covered partly with cash and partly with debt guarantees. It's astounding, that after receiving well over half a billion pounds in income during their tenure, we still owe more now than we did when they took over.
If I had to guess I'd say about 130 million pounds worth if the Athletic article was anything to go by.....
Poor recruitment for the last 5 years especially and a big wage bill. The one thing I've never understood about the Allams is why they give it half a go. The year we started under Phelan and when we thought it was sold, why bother signing Marshall, Mason etc? It was pretty obvious we were going down, and then spent heavily in Jan in terms of loan fees and wages. Complete waste of money, and would've been better signing good championship players ready to give us a chance of going back up. Instead we went down and repeated the cycle, bought late in the window and awful players on big wages. The 2017 summer recruitment is why we're a L1 club now. Spent £12m and god knows what on wages and released them all 3 years later. Only 1 of which has managed to get another contract in the Championship
That just quickened the process. If we'd have kept both till the summer, Bowen would've gone for a lot less, Grosicki would've been released and we'd have been relegated this year instead. Felt as if relegation has made the club have a serious rethink and for the first time in a long while our recruitment has been very good. If we don't make a substantial profit on this summer's recruits, I'd be staggered. Wilks is already worth 3x what we paid
