I asked a nun if I could kiss her, she replied 'yes, just don't get into the habit'. The views expressed in my posts are not necessarily mine.
There's an FFP thread already but in short, some of this analysis is flawed. We didn't stay within PSR purely because of the Allam loan write off, there's other deductions that are not taken into account in PSR calculations that we are not privy to, so you can't say that with any factual certainty. For instance our spend on our Academy, work on the pitch and other club infrastructure all form part of our operating losses but would not be included for PSR purposes. We also have no outstanding debt to the Allams unless you have seen something in the accounts no one else (other than Shark the other week) has? Can you please point to where they're listed as having debt owing?
If you don't understand it, how do you know they're more intelligent than you? Maybe it just fits your narrative -but ultimately, if you post it, at least have the decency to own it.? Otherwise you might as well just chose to run a book club thread and occasionally post long form observer articles in a desperate attempt to look sophisticated.
Was there something linked to Bowen or KLP that gave future sales to the Allams - I seem to remember there was something there when Acun took over which is why they agreed the price they did
The appear to still have a debt holding. About about a 3rd of the total. Basically our value as a league 1 club.
You had a bad Christmas mate? Jeez. I understand what the bloke has written, as said from the start it’s someone else’s analysis. There’s no narrative, people can formulate their own opinion on the accounts, there for everyone to see. I’ll post Kieran Maguire’s analysis in a minute if that’s ok?
The money owed to the Allam's is in the accounts (page 22). The accounts wouldn't be so concerning if we weren't a lot closer to L1 than the PL. I do wonder how a sale could happen, Acun is in for £43.8m, and then there's the Allams who are owed £21.9m. It's certainly going to be complex. I'm also surprised to see Acun charging interest on the loan, the Allams were slaughtered for that.
As OLM said accounts are at a moment in time so things will already be drastically different to these. They don’t look great but I’ve seen much worse in football. I can’t find the exact wording anywhere but pretty sure they have to charge a market rate of interest on loans so Acun might not have a choice with that one, whether it is debt to Acun Medya or external financing. Ultimately as with every football club, we’ll be alright until Acun gets bored. A lot of well known businesses outside of football rely on parent support to continue running. If he wants to sell then similarly to the Allams some of that debt will likely need to be written off.
Great work everyone! My take.... The loanees cost a fortune, they backed Rosenior heavily, rolled the dice and he failed to deliver....that's why he was sacked. They realise that's too risky, and look to own the players as assets, hoping to sell a gem each year, which feels more sustainable. Acun has some rich mates who support the commercial revenue, a big risk to us is Acun switching attention to the club he loves, and the hype around us dwindles. We now have a coach in place that is able to improve these players and next years accounts a more inline with the club revenue. The championship finances are a joke, something need to be done about the disparity between it and the Premiership
The Allamhouse accounts show a gain on the sale of group undertaking of £22,554,817. A note in the accounts refer to this is as the three companies, the club, stadium holdings and stadium management. The latest accounts to December 2023 show "other debtors" as 2.7 million ish. No mention who this might be, but if, very big if, it is Acun, it is someway short of your figure. Interest received given as half a million ish. Money in the bank fifteen and a half ish million. Some 3%. Again not quite your figures. I can see nothing that still links the Allams to City.
