If Mr. Allam was given the stadium and he then carried out all the developments as he wished, where would Hull Tigers Ltd (or whatever the company is called) stand? Would the stadium be sold to Hull City so that we own our own ground or would it be sold to Mr. Allam (and yes I know he owns Hull City)? How would it guarantee self finance for Hull City? I'm not arguing anything, I would just to like to understand the logistics.
Thanks for the response, the question is obviously hypothetical as it's obviously impossible to go back in time. I know very little about all this but thought that Allam is Egyptian ....... has he now become a British national? If not then I don't see how the source of the money is relevant unless there are loans from British financial institutions.
I know but cannot say! I also know that there are many in the same position as me. They have been told in confidence and there is too much at stake to reveal what has and is going on. But everyone should be aware that, just because things are not discussed on here or other forums, it doesn't mean nothing is happening or has happened.
To be truthful, I don't honestly know for sure. I could suppose like many will, but that would not do justice to your question.
So, without prying or getting anyone into trouble, it's safe to assume the wheels are still turning and could be turning positively? That HDM tweet about developments a couple of weeks back went quiet too didn't it? I know some supposed it to be about the stadium ownership.
He fled Egypt at the age of seventeen (I believe) virtually penny less and has since amassed a personal fortune said to be around 650m.
Sorry to appear confused or naive but does that make Hull City foreign owned? I had a feeling he'd become a British national to be honest. Didn't he have substantial 'family assets' in Egypt when he first came to Hull?
It's irrelevant. His company, wealth and family are British. He is a British national that is proud of the area he's called home for a large proportion of his life.
Normally I would have said it would go under the SMC's name, but due to FFP I would expect it to be put under the club's name in some way. Probably put under the SMC's name so that the company that owns the ground is the one responsible for running it, but then you could put the SMC under City's name.
Not really. If he was Egyptian and the money comes from his own fortune it doesn't matter where the money's come from, it would still be foreign owned ...... or am I wrong? Anyway, if he's a British national then that's answered the question, thanks.
It's irrelevant. His company, wealth and family are British. He is a British national that is proud of the area he's called home for a large proportion of his life.
As far as I'm aware the Allams did sit down and discuss the future of the KC with HC Council. There was no firm bid made. My source is family and works in the Treasury.
If you're British, buy an Egyptian house a British bank loan/mortgage and then default on the loan, then the house is the security and is then the property of the bank when they repossess (in US 'foreclosure')
If I use an Egyptian loan I'd imagine it would then be Egyptian. If I buy a holiday home, in another country, with my own funds then surely it's foreign owned.
