Assem Allam told Burnsy this morning that they will have spent £66m by the end of this season. Well Hull City owe AllamMarine that is. I would think the Allams have every right to take it back at some point in the future. Nice to hear that AA wants to build the club up and keep Hull City up as the next step.
I'm sure he has said he wants to get Hull City to be a established Premier League football club, whether that means he would get to this point and sell the club in a stable condition I do not know.
AA knows the worth of owning a PL football club to his main business nevermind the worldwide exposure and kudos.
I don't know the ins and outs of deal with Allams, but I'd rather owe Allam £60m then a bank with crippling interest rates.
If what OLM says is accurate regarding interest charged by the Allams on the loan (I have no idea of this), then 6% really isnt a great deal in the current climate of the lowest interest rates in history.....
It's still 3.6 million per year (working off a 60 million base figure) which means we now owe them 69 million. Lets just pay the bastard off and start again from scratch season after next before it cripples us.
I've read all the posts above and admit I haven't got a ****ing clue what was said. Can someone please put it in laymans terms for me and for those who are too shy to ask?
The council should name a street after him. Mr Allam Road, I cant see how the Allams can screw us over. Its their business(club). They would be screwing themselves over surely.
Isn't that what we said before David Lloyd did everything he could to run us into the ground? And don't you have to be dead to have a road named after you?
Yeah but wasn't the issue with Lloyd that he wanted us to move off BP site to a new stadium so that he could build houses on the land....... or did that just happen
So we're still serving our debt to the tune of £3.6m per year. Not a great deal in the grand scheme of things, but it could be used for another couple of players yearly wages. I would expect it is part of the MD's job to make recommendations on such things, possibly even sign them off? As such, I would expect NT to be looking to pay off ANY debt as soon as it is feasible.
So we're still serving our debt to the tune of £3.6m per year. Not a great deal in the grand scheme of things, but it could be used for another couple of players yearly wages. I would expect it is part of the MD's job to make recommendations on such things, possibly even sign them off? As such, I would expect NT to be looking to pay off ANY debt as soon as it is feasible.
Except that 6% is not a bad rate to borrow at. Especially if you are 4 days away from bankruptcy. Truth be told, at the time we needed the money, nobody else would have lent us a quid. To find someone who would lend us £60m literally saved the club. The interest payments go to Allamhouse, who also own City. In effect we are paying ourselves, but the interest payments are tax deductible, so we (City) win again. Just accept it, the Allams have saved Hull City, protected the club from bankruptcy, saved us from a 10 point penalty, funded the best manager we have ever had, funded the best team we have ever had, got us automatic promotion, and indicated that they will fund next year to ensure that we stay in the Premier League. Why must they be villains? What does Papa Allam get from Hull University? From Castle Hill Hospital? From North Ferriby? Face it, they are genuine philanthropists. If you can't understand that, then I assume you have never put a pound in the blind box. That rather suggests that the problem is one of people judging by their own criteria - mean spirited tossers. Ask yourself, Is that you?
Bloody hell. That's a new low. You seriously just...ok I'm almost speechless. The rest of the conjecture, facts and opinions based on the conjecture is honestly sickening. I realise the majority of you are probably quite normal sane blokes in real life outside of these forums, but I don't get why you want to be associated with such utter ****e.
