Nonsense, we'd still have a club, obviously not in the position it's in now, but we'd still have one.
Allamhouse can write off the debt. It can ,alternatively, insist the debt remains on the balance sheet when the new owner takes over Hull City Tigers Limited, or it can insist its paid. Until the club is sold we won't know which of the three it is.
The debt of £77m is real but it is the valuation of that debt that is the barrier for a sale. Hull City in the Championship next season and I'd put a value on it of around 20-30p in the pound. Hull City in the PL next season and the £77m keeps it's value. That's why there is no sale - the difference between the two is so great.
I suspect it won't be option 2 either, he'll want a clean break and he's not going to risk someone putting the club into admin and getting out of paying him.
If £25m has been repaid to Allamhouse as suggested, then the debt is lower (£47-48m) and more manageable with reference to a prospective sale. The provision of parachute payments now over 4 years should also go some way to offset the variance? Any buyer would only be interested at acquiring at those sort of numbers based on Premier League revenue, not many local high net worths looking to ensure a 'legacy'
Unless the buyer' gives a secured PG to Allamhouse and has passed the fit and proper test the Allams are applying
Aluko could make a good living and a good name for himself here in Oz. Would be an excellent 'Marquee' signing. Whilst on this subject ex Hull City player Robbie Koren came out here a season and a half ago and signed with Melbourne City. He was plagued with injuries and never settled in the team. New Manager didn't like him and Robbie has parted company with the Club by mutual agreement. I have no word as to his future.
All hail our comradely brothers at HCST who are fighting the just fight against the evil oppressor on our behalf. Yes. It's the same type of bollocks. Can't imagine why they can't be arsed with you.
Wow. Half our supporters? X amount of debt. It's a bit cheeky some of you getting the hump over Burns and the others posting made up speculation and fantasy stuff online.
We have a very valuable and incredibly talented playing squad, all within the shackles of FFP. That suggests the running of the club isn't too bad. With regards the total debt, more than half of £72m was run up by the previous regime, and ultimately underwritten by the Allams, not written off. We speculated, we accumulated, and despite relegation we're still in a better position both on the pitch and in the books than we were the day Allam took over. For instance, when the Allams took over, we had over £40m of debts, a winding up order, an no saleable assets with liabilities we couldn't either afford or rid ourselves of taking that debt total higher by the day. Now, we have £72m of debt (regardless of who it's owed to), but everything is paid on time, we can afford the assets we have, they also have value to an amount which, if we were to sell them all today, we would almost certainly be well below that original figure of £40m, with plenty of surplus to put together a comparable squad to the one we had in December 2010 and still be well below £40m. On top of which we now have the best facilities the club has ever had. The Allams are ****ers but you can't try and claim the club was better off without them, it's complete bullshit and just makes you look silly.
There's nothing made up about the debt level, it's £77,424,697.00 at the last count, it's in the accounts. https://beta.companieshouse.gov.uk/company/04032392/filing-history It's normal for football clubs to carry a lot of debt and as Hattie says, it's being comfortably covered, so it's not currently an issue. Nor is it an issue that it went in as a loan, it's the only tax efficient way of doing it and as he's looking to exit at some point this year, it will all be sorted one way or another anyway. He's done a lot of good stuff at the club, it's just a crying shame he persevered with a ridiculous idea and spat his dummy when it failed.
