The Allam's put in £41m in cash according to the accounts. Not deferred debt, not debt guarantees, but £41m cash, making us now debt free. At least that one's now been put to bed. http://www.yorkshirepost.co.uk/spor...nt_of_keeping_key_men_despite_loss_1_4131692?
Without them we would be up **** creek without a paddle, anybody knocking the Allams needs to take a good look at themselves
How does a guy who has built a business empire worth £500m put that kind of money into a football club that has almost no assets, as an investment?????? IT DOESN'T MAKE SENSE. Only someone who is Special Needs would not be able to see the act as one of incredible philanthropic benevolence.
This type of commitment must be on par with the Needler family of old, Harold would be proud that such people still exist to care enough about the Tigers.
Agreed Strovolos, I don't think they have ever shown any inclination for any sponsorship of local teams whatever the discipline.
"Hull’s figures also reveal that bank loans, which at the end of the 2009-10 financial year had stood at £17m, had been wiped out thanks to the Allams. Pearson said: “The club is in a great position. What has happened at Hull has to be unique, certainly for a Championship club. For the owners to pump in so much money is just unbelievable. “They undoubtedly saved the club from what would have been liquidation. It couldn’t have been administration because there was nothing to administer. “The club had no assets and no playing assets. In fact, if anything the club had liabilities in terms of the personnel. “I still don’t think, even now, that people appreciate just what the owners have done for Hull City. “To put in £50m to a Championship club is something that just doesn’t happen, especially when the money cannot be considered to be a commercial investment.” Just wish some of the Allam doubters would come on this thread and apologise for the crap they've spouted in the last few weeks.
It's not really about sport though. Assem Allam has no real interest in football, although judging by the amount of times I've seen his Phantom in the Car Par on matchdays that may well be changing. It's about doing something for the community that surrounds you and that you grew up in. Sport is just the vehicle. How much would £20m, £30m or £40m be to a guy who is worth £1.5b??
The Allams must be some of the most supportive and genuine owners in all of the football leagues. If they do make money out of Hull City then good luck to them as looking at the figures they had!!! very little to gain but I'm no expert!!! UTT
I still don't expect the morons who sceptically view the purchase the KC as a underhanded mean of buying building land to have been swayed by this information. Anyone with half a brain can see they are attempting to establish an asset base for the club. Without which, in years to come (I.e when the unbelievable generosity of the Allams) as dissappeared the club club fold in an instant! Thank you again Mr Allam, true tigers fans will be forever indebted!
