Haha made that joke somewhere else. Quite seriously, for 100m the Yanks should be on it in a flash. Works out best for both parties, Allams make a profit, and the Yanks get a PL club relatively cheaply (considering we're making a guaranteed 170m this season at minimum, before considering any money they want to put in on top of that).
So we're guaranteed 170m. If we stay up we're guaranteed even more. We might not receive it until the following seasons but it's locked in and can be budgeted for.
On par with the sale of Swansea then...seems about right. I wonder if owning the stadium is high on the yanks agenda? I think the development opportunity around the stadium is probably going to help this deal get over the line....fingers crossed.
Sounds promising I'm assuming if they hope to conclude a deal by the end of the month the price will already have been disussed
http://www.hulldailymail.co.uk/Hull-City-cost-buyer-100m/story-29371712-detail/story.html The way I read the story was £100m all in. What is the current debt to Allamhouse? Anyone know?
Just googled it and in the Yorkshire post article from February it said the debt owed to Allamhouse was £77.4m. Does that include the 40 million they bought the club and debts for? EDIT: I guess not so will they make a 17.4m loss on the sale if it goes through at 100m? Not including salaries etc over the period of ownership.
David Burns @bbcburnsy The EXCLUSIVE I'm about to break re @HullCity , I'll be discussing on the Burnsy Show @RadioHumberside at 9.05
Maybe they won't view it as a loss given all the coverage their company has received over the last few years, either way I hope they are gone soon and it's a shame we will still be known as 1904 next season, maybe Hull City can make a return on the badge in 2017 for the City of Culture final months.
If they sell for £100m they'll make a £25-30m profit (depending on what debt they paid down this year) and they've already had about £20m in interest and group tax relief, so they'll have done very well out of it.
Burns: EXCLUSIVE..I think the man who built one of the largest private wealth management funds in the world is trying to buy @hullcity #hcafc
David Burns @bbcburnsy EXCLUSIVE..I think former Goldman Sachs MD (25 years) Peter Grieve is a leading player in the USA group trying to buy @HullCity #hcafc
PETER GRIEVE DIRECTOR | BOSTON, MA please log in to view this image Mr. Grieve is the founder and Managing Partner of Windy River Group, a private investment company with interests in commercial banking, professional soccer, and industrial technology applications. As such, he is Co-Founder and Chairman of Cordia Bancorp Inc (NASDAQ: BVA); Co-owner and Chairman of Bantu Rovers Football Club; and a Director of Performance Indicator LLC. In 2009 he stepped down from a highly successful 25-year career as a Managing Director of Goldman Sachs to help found Cordia and launch Bantu. At Goldman he co-founded, built and led the firm’s largest private wealth management practice globally. Mr. Grieve is a graduate of the U.S. Naval Academy, served as a Marine infantry officer, and holds an MBA from the Tuck School of Business at Dartmouth, where he most recently served on the Board of Overseers. He also is a past Overseer of the Museum of Science in Boston. He currently sits on the Investment Committee of the U.S. Naval Academy Foundation and the Board of Directors of Grassroot Soccer, an HIV prevention and education organization for African youth through the sport of soccer. Mr. Grieve has most recently joined the Board of Directors of The Mission Continues, a non-profit focused on creating a framework for returning veterans to continue their service in their communities. https://www.missioncontinues.org/about/our-board/peter-grieve/
BBC Humberside Sport @HumbersideSport Hull City spokesperson won't confirm or deny @bbcburnsy understanding that Peter Grieve's heading up leading potential takeover group. BBC Humberside Sport @HumbersideSport Hull City have confirmed to @bbcburnsy that there are 3 interested parties still in talks with the club over potential takeover deal.
