Is there any significance in this??

The Allams themselves say they do not know a lot about football....
In the full accounts (submitted 17th Oct), in the future developments section, they have stated
"Our strategy is to regain Premier League status by then end of the 2015/2016 season. We will do this by retaining the service of Steve Bruce, who is an International Football League Manager".

Are Hull Tigers going to play in the newly named IFL ?????

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Yes ok im even more baffled after reading this thread.
Wish i hadnt bothered

 

The debenture created in 2010 meant that Allamhouse had a legal claim on the parachute payments and the unpaid transfer fees. The documents filed with Companies House mean that Allamhouse can no longer get first dabs on the parachute payments and transfer fees.

The documents don't mean that any money has been repaid or that we are not owed money for the sale of our players.

 

Not clued up on this but if they had first dabs on the money why would they file documents resulting in them no longer having first dabs?

 

Presumably the money has been paid so the debt is no longer there to have first dabs on.

 

I tried to google it but found nothing. It may be in the Premier League/FA Rules. The money is basically to help clubs pay for the wages/transfer fees of relegated clubs after losing their Premier League status. Watching it end up in the owners/bankers hands rather than the players and other football creditors may be something they frown on.

 

We are due parachute payments for the next three years so I doubt its all been paid.

 

Until the money is physically received by the club it is a debtor which can be used as security for a creditor such as a loan from another company/person, this security has to be registered at companies house so that other potential creditors are aware of its existence when evaluating what assets the club has which could be liquidated to pay any potential line of credit they may extend. So it is better from the clubs point of view to remove the security if it is able as it means that creditors may be more likely to extend credit.

 

It may not have been paid but Allamhouse may voluntarily cancel the security if it wishes. Without the security attached to the loan the club becomes a more attractive business for other businesses to trade with and Allamhouse would not have the priority for repayment should the club be liquidated - which could be seen as positive for the club and it would imply that Allamhouse is less likely to liquidate the club to recover the debt

 

I would have thought the backing of Allamhouse would be more than enough for any creditor to lend the club money. The Allams want their money back and the only way they can achieve that is by having a successful football club.

 

I agree but should they decide to cut their losses they would recover a bigger proportion of the creditor with security so not having security means they are less likely to pull the plug.

 

If everyone could just just get on and make a ****ing massive noise for these last few games, I'd make every last one of you a fish finger butty.

 

You **** you Kempton, fish finger butties ...... food of my childhood, I'm 62 years old and 99.9% of the time I eat healthy fodder, fish finger butties in nasty white bread is my guilty secret! Just in from my local, quaffed half a gallon of beautifully maintained Batemans Gold and a large malted one and I need a buttie ... now!

 

Would that suggest they may fork out money to keep us competitive at the top of the division next season?

 

With Salad Cream?

 

To clarify a little more from my first post for those who have not viewed the documents, Allamhouse have partially released charges on the debt that the club owes them. The releases relate to Allamhouse entitlements to take monies from; Premier League, and fees from WBA, Southampton, derby, Norwich, and West Ham.

Usually speaking such release of charges only takes place after payment of debt has taken place. However, it is possible to remove these charges voluntarily for other reasons. The other reasons can be anybody's guess. If the charges have been removed without payment to Allamhouse explanations could include a decision to write off debt either for an asset sale to take place or to take on external borrowing.

Hope this helps.

 

Amazing. Just amazing, They talk about football as if it's just a process of facts - if we retain an international football league manager then we will retain premier league status.

 

I don't really get accounts.

I'll wait for Peter Saxton to step up and explain this stuff, he knows his onions and how to explain said onions to me.

 

No, nothing ever with Salad Cream. The fact it has the word salad in it should be a dead giveaway.

 

I agree I use the same logic myself.

I love brown sauce.