A Different Perspective on Assem Allam

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SuitedandBooted said:
You scare me? Ha ha only your blatant stupidity scares me luv!
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Thank god you didn't create an attention seeking thread screeching for the scary people with independent thoughts and differing views to be banned. That would be embarrassing for a CI hardnut.
 
Happy Tiger said:
Thank god you didn't create an attention seeking thread screeching for the scary people with independent thoughts and differing views to be banned. That would be embarrassing for a CI hardnut.
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Good job I didn't. I did create a thread asking for the banning of quadraspazzed mongs who bring nothing, apart from he owns it so he can do what he wants blah blah blah, to the debate.
 
Mckechnie Orange said:
In investment terms he made nowt -bought for circa 12m with borrowed cash and sold for nothing. It looks like he paid himself a ridiculous salary from club finances at least in one financial term, so in real terms who knows?

He borrowed the money to buy us, ultimately couldn't service the debt (exacerbated by relegation and the property/financial crash) and was very fortunate to sell us for £1 after Allam had pacified his creditors to the tune of £30m (£20m cash, 10m guarantees BEFORE purchase....!)

Bartlett and Hull City were very lucky indeed. Allam in the meantime effectively paid thirty million quid for a club worth consideraby less than nothing.

We were basically 30 - 40m up the ****ter in terms of liabilities with assets worth a fraction of that amount. Bartlett would have done his best to teflon coat himself, but there's a reason he was happy to walk away with nothing -and that is because banks and thetaxman effectively owned the club at the time he left anyway, with him utimately liable for the considerable (£30m) shortfall.

What Allam did to buy the club made no business sense whatsoever. He'll be lucky to get his money back even when he does sell.

It is a strange thought but Allamhouse haven't just financed the second premier league campaign but to all intents and purposes the first as well.

In terms of Bartett's personal wealth it is impossible to say whether or not he came out better or worse as a direct result of owning hull city, but he was a very lucky man indeed that the Allams came in when they did, and we are very lucky indeed Hull City A.F.C isn't currently playing North Ferriby in a local derby after making our way back from the 6th tier of non league. Administration wasn't a viable option, I **** you not.

It would have been liquidation, new club, new start. Perhaps the name and trademarks would have been sold to the new club but 1904 would have been substituted for 2010 on the shirt, put it that way.

Whilst I'm not in favour of the name change and see it as unnecessary, I could absolutely see how it would stick in Assem's craw the fact that the fans choose to resist his changes based on a heritage that would simply no longer exist in its present form without his own, largely philanthropic, £30m gesture in 2010.

Though of course for most fans ignorance is bliss.
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top post, but most on here won't agree with it.
 
Mckechnie Orange said:
In investment terms he made nowt -bought for circa 12m with borrowed cash and sold for nothing. It looks like he paid himself a ridiculous salary from club finances at least in one financial term, so in real terms who knows?

He borrowed the money to buy us, ultimately couldn't service the debt (exacerbated by relegation and the property/financial crash) and was very fortunate to sell us for £1 after Allam had pacified his creditors to the tune of £30m (£20m cash, 10m guarantees BEFORE purchase....!)

Bartlett and Hull City were very lucky indeed. Allam in the meantime effectively paid thirty million quid for a club worth consideraby less than nothing.

We were basically 30 - 40m up the ****ter in terms of liabilities with assets worth a fraction of that amount. Bartlett would have done his best to teflon coat himself, but there's a reason he was happy to walk away with nothing -and that is because banks and thetaxman effectively owned the club at the time he left anyway, with him utimately liable for the considerable (£30m) shortfall.

What Allam did to buy the club made no business sense whatsoever. He'll be lucky to get his money back even when he does sell.

It is a strange thought but Allamhouse haven't just financed the second premier league campaign but to all intents and purposes the first as well.

In terms of Bartett's personal wealth it is impossible to say whether or not he came out better or worse as a direct result of owning hull city, but he was a very lucky man indeed that the Allams came in when they did, and we are very lucky indeed Hull City A.F.C isn't currently playing North Ferriby in a local derby after making our way back from the 6th tier of non league. Administration wasn't a viable option, I **** you not.

It would have been liquidation, new club, new start. Perhaps the name and trademarks would have been sold to the new club but 1904 would have been substituted for 2010 on the shirt, put it that way.

Whilst I'm not in favour of the name change and see it as unnecessary, I could absolutely see how it would stick in Assem's craw the fact that the fans choose to resist his changes based on a heritage that would simply no longer exist in its present form without his own, largely philanthropic, £30m gesture in 2010.

Though of course for most fans ignorance is bliss.
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I have to point out that "administration" would have maintained the club until it could be sold, but with a points deduction and no commercial debt, only the football debts would have needed to be met in order to retain FA compliance. Liquidation would mean a complete sale of all assets and could follow administration if no buyer was found. The value of the clubs assets in 2010, probably less than 1m.

Hull City would have been bought from Administration, for far less than Assem Allam paid. The reason it was not, is simple. The points reduction could have added a addition season to Assem Allams plan. How much are 15 points worth? In our case maybe £30m.
 
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