Or somebody who no longer cares. The club has gone so why should he bother? Unprofessional maybe, but the family will be getting a cheque for around £100 million.
In my view it was a test to see how serious the American bid was, it wasn't that serious as they walked away. I'll post what I know about Peter Grieve once the sale has gone through and we have new owners.
Has it gone though? Other than tittle tattle on FB there's nothing solid, like a night after a hot curry. I'm sure we all want to see the team strengthened so those boys that represented the club magnificently on Saturday are supported between now and the end of the season.
There were 3 buying groups interested towards the end of last year, one from the US and two from the Far East. There was a deal agreed with the US consortium on a handshake and nothing more. But even if one had been signed, in the UK they are not legally binding. The current consortium put more money on the table, which indicates that there was nothing actually signed as generally once an HoA is signed exclusivity kicks in. One of the most interesting elements to HoA is the confidentiality clause. Neither party should disclose any detail of the agreement. The stage we will be at now is the Heads of Agreement stage and the clubs accounts will be available to the prospective buyers who will have a right of veto on player transfers, both in and out. Due diligence is only conducted by the buyer and not the seller. Once the Heads of Agreement had been signed, it could take months before the full sale takes place
Do you seriously think Allam instigated the name change bollocks because a Chinese consortium said they might be interested in buying the club 3 years later? Especially when he had not stamped his foot and had a tantrum and said the club was up for sale because he hadn't got his own way at the time.
Just because it is 3 years does not mean they was not talking to anyone ref the sale back then ,they could have been talking to an asian group back then to how do you know they was not, these people are not the only one's from asia that have been linked to the club.
Just to make you feel better Chazz I will be offended and call you names under my breath because I don't use foul language. To a friend from a friend.
It was **** all to do with Asia, it was all about the council, the 'Chinese like Tigers' bollocks was just a lame excuse.
Could an intersted party (the Chinese) buy the due diligence findings from a party that has declared itself out of the bidding (P Grieve)? The Americans would have spent a sum of money on their own due diligence investigation so in theory maybe you could purchase the results and in that way the Americans would recoup money spent and the Chinese save time & in effect secure the value of the asset..
Yes, we can buy. but the other party has to agree to the purchase.But if an offer came in for a player and they want us to sell, we would have to sell. It makes transfers more difficult.
No HoA no due diligence. Assem Allam was still finding things out months after he took the club over.
Any interested party spending the best part of £100m relying on somebody elses DD needs to give their heads a serious shake!
It's been reported several times in the last few days that there is a second bid also trying to buy the club, suggesting exclusivity hasn't been agreed with this group which would suggest a price hasn't been agreed? Or am I adding 2 and 2 and getting 5?
Hull City owners the Allams reveal cost of relegation as takeover talks continue please log in to view this image Hull City owner Assem Allam saw his business empire suffer a £46m drop in turnover following the club's relegation to the Championship. Allamhouse Limited, which owns the club, the Superstadium Management Company (SMC), industrial generator company Allam Marine and property companies, saw their turnover decline to just over £146m last year and pre-tax profits almost halve from £18.3m to £9.4m. Mr Allam and his son, Ehab, are directors of the company and are in advanced talks to sell Hull City, with Chinese investors interested in taking over the club. Although the club is now back in the Premier League, relegation at the end of the 2014-15 season caused a substantial impact on Allamhouse Limited's finances, with turnover from Hull City decreasing by £25m in 12 months. please log in to view this image Assem Allam (left) and his son Ehab (right) are directors of the company More news: Hull City Council 'open to KCOM Stadium ownership talks with Hull City suitors' "Turnover has decreased substantially from £90m to £65m with the club moving into the Championship," Allamhouse said in a report following an audit of the company up to December 31, 2015. "Continued investment has been made in the club and the team continues to perform well. "The company continues to operate the stadium for both football and rugby together with the arena for mixed sporting and entertaining events. Improvement of the stadium facilities has continued, with an excess of £2.5m being spent on infrastructure. "At a trading level sales were down by 20 per cent, due to the football club moving into the Championship." please log in to view this image Chinese investors watched Hull City's match last weekend after talks to buy the club The Sunday Times Rich List dropped the Allam family to the 18th richest family in Yorkshire this year following the club's relegation, with a net loss of £100m. Along with the football club, the business empire's main arm, Allam Marine, also saw sales fall by 20 per cent but continued to make a "good profit". The company's board said they were positive about the company's profits in the upcoming year. "The directors are optimistic about the future of the group," they said. "Improving market conditions should bode well for the engineering and property development companies, and the previous hard work in respect of the stadium and football club should now bear fruit." Members of a Chinese consortium watched joined to crowd on Saturday to watch Hull City's 2-1 win over champions Leicester. And while there have been suggestions that the status of the stadium could be a stumbling block in any takeover deal, the Mail understands that Hull City Council is open to discussing the details surrounding the ownership of the ground. http://www.hulldailymail.co.uk/hull...tory-29620426-detail/story.html#ixzz4HOH7q7rB
There may have been other interest previously, but I believe there's only one party in the running now and terms are pretty much all agreed.
I have no idea. The mood music is that we are close to a sale. The Chinese have now been photographed at the ground which indicates a seriousness by both parties. I don't expect the books of account to contain any nasty surprises. The Allams have rectified the neglect of the KC by Bartlett, they have invested in the training ground and the academy and all the other paperwork will be in order. The Allams will take a pride in what they hand over and that everything is in order. So its just signing the contract (if its not already done), passing the various tests for fit and proper persons, paying the money and announcing the new owners.
