Whispers that Amir Khan is lined up to take over the club this week. One way to get them boxing above their weight!
If the rumours are true, it's a hell of a good deal for them. Khan becomes owner, Dean Holdsworth becomes chairman and they're allegedly only paying £15m with Phil Gartside paying off all the debts.
It could be, I'm not sure of the ins and outs, it's The Mirror reporting that it's Gartside writing off the debt. http://www.mirror.co.uk/sport/football/news/amir-khan-dean-holdsworth-set-6852906
It would certainly give them a huge lift. Let's hope it comes along with better health for Phil Gartside, who is a reasonably young man. I might not understand it correctly but I thought Gartside is an employed Chairman and it is Eddie Davis, an Isle of Man businessman who is the owner - something he can no longer sustain.
Gartside is seriously ill so they are bringing in Trevor Birch to handle the sale of the club. Davies has said he can't fund the club any more. I understand the money owed to him is about twice of what the Allams are owed by Hull City. http://www.bbc.co.uk/sport/0/football/34797932
The loans are being written off by Eddie Davies. Given the level of debt somewhat bemused that Khan is paying £15m unless Eddie has made the sale and his loans being written off conditional upon funds being put in to cover operating expenses for a period of time post sale, and/or funds for player additions/salaries? When they were in the PL with Messrs Allardyce and Brown running the first team, investment in players was out of control, and Eddie picked up the bill! The fact the problem has not been addressed until now is nothing short of gross mismanagement. I'm surprised Gartside has lasted at the club as long as he has.
I doubt that it was Gartside who signed off spending; he will have done his job and made sure what was agreed was acted upon correctly.
Yeah I've got a mate who's a Bolton fan. Financially they are absolutely ****ed, though it will give them a massive boost if the debts get written off. Khan must be mental to get involved with a football club, he'd be as well going and chucking a few £m on a fire and burning it!!
Ah the Blatter approach to management. I head the organisation but hold no responsibility or accountability for what's happening within it!
Don't be daft; do you have the first idea of how business works? It's not Gartsides money, he simply manages its use, it is the money provider (owner) who will say whether or not his money is spent and the football manager who recommends where. Gartside might be guilty of acting on the poor decisions of others but that is all. Yours really is a poor comment.
The Allams aren't billionaires, yet some would have you believe they are only involved with City to make money. How does that work?
If you read my first post on this subject you will note that I refer to it being Eddie's money The point being made which you seemed to have grasped is that overseeing management decisions which have led to debts of over £170m is very much of Gartsides doing. If his defence is that he says Eddie was happy for me to accrue debts of this level then he's dafter then you think
You seem to use this to support your condescending tripe. If a club owner employs you to manage his business then you would be very wise to advise him on his best approach, but also very wise to respect his selected investment strategy. You, cheshireles, have absolutely no idea what has been discussed between them and absolutely no idea what you are criticising, except that the debt is big and, on that principle alone you would be sacking some very good, very experienced CEOs/MDs who are enacting their employers investment strategies. Do you know whether or not Eddie Davies will or will not write off the debt or are you just shooting from the hip?
Correct. £170m if the reports and rumours are correct. Leaving the purchase price to be around the £15-20m mark for anyone who has that Wonga. At least whoever does buy it gets the club in a better situation than as of now. Phil Gartside has more pressing matters to deal with like his health, sadly.
You don't need to be a billionaire but it helps. First rule of business is not to extend yourself. Sadly many clubs in football do to Win that Dream. Just look at the madness going on NOW in the championship. Owners / clubs trying to get into the PL. Whilst all this is going on around us --- the good ship Hull City sails on with Capt.Bruce in control.
