I understand that. That's my point, it's the classic line that's used to say 'It's true but we can't tell you'. It's a verbal nod and a wink.
Every thing about the Allams suggests that they wil sell for c£100m, and whoever buys 'inherits' the compnaies assets (players only) and all liabilities (including the Allamhouse debt). It's the norm in such transactions, that said the Allams don't seem to have a 'norm'! The Allams have no financial pressures, so they can sit back and wait until someone meets their demands. I also suspect any deal may revolve around any consortium getting their hands on the stadium and being to develop around it, thereby strongly increasing the clubs asset value and balance sheet.
We generated over £20m through player sales and reinvested very little of it, we won't know if any of the debt was paid down until the accounts come out, but I suspect we did. Even if the debt wasn't paid down, that income should certainly have made sure we didn't make a loss this year.
I believe he actually met him at the KC several weeks ago, I don't know why he's chosen now to reveal who it is, maybe he's been given to nod to do so?
Every penny the Allams have put in remains on the balance sheet as a debt to Allamhouse, they reckon it's £85m, but I suspect the net investment is actually less than this. Either way, if they get £100m for the club, they'll have done very nicely out of it.
Really I didn't know that, thanks. Hmm as you say why now? Maybe things have moved on and it's becoming a lot more concrete.
The £100m will be the full cost with the debt paid down, there's no way they'd have any interest if it was £100m for a club with £80m of debt.
The Allams have only made £10m eh ? Which is £10m more then anyone else was prepared to gamble on making. Imagine the guffaws if the initial gamble had of backfired and instead of being promoted in their first season in charge the club had of been relegated ? It would have been a case of more fool them.
this all sounds so wonderfully promising, but I have such a fear that one of those two utter red enders will de rail this somehow, whether it be through ego, spite or sheer unadulterated incompetance.
The more I think about it, I dont believe they're incompetent in the slightest. I just find it impossible to believe that people that stupid could be so successful so it must be spite and ego.
Rumour lost a certain amount of credibility when it started with Burnsie saying "I Think", which we all know he is barely capable of doing.
I believe they are (well Allam anyway) very very good at running a marine generator business and those skills are transferable to other businesses, where they lack is understanding how a football club needs to be run as they've admitted themselves, in that field they are grossly incompetant! Looking back historically though, I certainly think it was spite that led to the name change after the spat with the city council, the membership scheme speaks more of incompetance, but I am pretty certain that if anything derails this sale it will be ego and spite in equal measures.
Doesn't look like he's the billionaire we are all hoping for. No mention anywhere of this net wealth in the top reports.
