2018/19 accounts...

Clubs/Agents will obviously have an eye on our situation. They won't want to spend more than they have to.

Bowen is a good prospect and in today's market, he's certainly worth a punt, but 20m?

Grosiki's age goes against him/us if we are looking for a happy deal.

It's not looking good for us I'm afraid.

 

I think Turbo will go for free in the summer and Bowen for 12/15m in Jan if he keeps this form up

Who ever goes and whenever they go, I just hope it's enough to see those tits at the top go as well

 

If a scout is reporting back to his club today on Turbot, it will read summat like;

- scored a great free kick, celebrated on his own, very inconsistent passing and crossing, bizarre decision making, seemed to lose interest the longer the game went on.

 

What can I say? It's the hope that kills you.

 

Some observations.

The absence of the Prem money this year alone turns this in to a £30m loss for the current year, though Maguire money mitigates that. Bowen sale would also see that drop.

Turnover. Matchday revenue down by £1.3m. Looks like it’s still falling.

Admin costs are 75% of income. Need to cut down the biros.

Intangibles at £9m means there isn’t much left on the books that we paid money for. Dicko and Stewart mostly I think.

Net current assets. Effectively money available to Allams though £15m is to other Allam companies. All in all, £10m in cash, add Maguire and Bowen, £30m available for them to draw on. They are owed £50m but garner £2m, £3m, £4m every year in “interest”, so probably at least break even for them. Not quite the same as “Allams have ploughed £100m in to the club” that some purport.

Cash used to be players - £1.9m. Against parachute income of £37m one may draw the conclusion that the club had feck all intention of making a promotion bid.

Contingent liabilities. We could get £7m income from transferred players depending on performances. No doubt Robertson and Maguire related, but we could pay £7m if players we signed reach certain thresholds. Stewart? More likely to receive than pay.

The club loaned £550k to Ehab at 2.5% interest. Not exactly Capital One type interest.

More downside than upside with these accounts, IMO

 

It will include payments to the College for the academy plus any lease payments for machinery etc to look after the training grounds. It may also include payments for any medical equipment obtained on lease.

 

In addition to NYC's post.

Our turnover (excluding net player transfers) this year will be around £11 million plus the Premier League solidarity payment for EFL clubs not getting parachute payments and whatever increase in TV fees the EFL negotiated. City are unlikely to be the live match very often so we will get the guaranteed minimum, maybe a bit more.

City have consistently loaned the SMC money to fund its losses. Last year that amounted to £1.7m. That's on top of the rent payments to the SMC.

Allamhouse is still charging interest, last year we paid £2.3 million. It will be less than that this year because of reduction in the debt. There's no mention of the rate charged this year, no doubt to stop us comparing it to the rate Ehab negotiated for his short term loan.

Last year the cost of sales was £27.4m. Its unlikely that the Allams have been able to get that down to anything like the £15 m needed for us to be close to breaking even.

The Maguire money will be swallowed up by the costs of running the club unless the Allams start borrowing from the banks to repay their loan.

My gut feeling is that next to nothing will be paid off the loan this season, unless of course, they cut their losses and sell.

If not, the Allams know if we are relegated then they are stuffed financially. A big incentive for them not to sell any of our best players.

 

If only they had sold the club when we got back into the premier league , I wonder why that didn't happen ?

 

http://priceoffootball.com/hull-city-2018-19-doppelganger/

interesting article

 

Allam wears lingerie on Thursday nights.

 

From that article that caught my eye.

1. Villas wages at£73m. 7 times more than burton, 50% higher than the next club. FFP?
2. Interest payments £23m in the last 10 years. Some gift.

 

"Conclusion
Hull financially have done well to break even on a day to day basis last season but that ignores that their main income source is about to dry up.
Unless a speedy resolution to the conflict between the owners and fans takes place the club is going to struggle to compete in the Championship and attendances could fall even further below the present levels.
Some might say the accounts are out extremely early to give the Allams more time to market the club to potential investors before there’s a deterioration in the financial numbers in 2019/20."

Seems a pretty good summary to me

 

Ray Charles can see through these accounts. Any which way it’s spun, the Allams will take money out to cover their debt leaving a likely scenario of little debt, Little income, third division football

Nobody is paying £50m for this.

 

Sorry, disagree.
I don't call £50 million a little debt, and I don't now see it moving that much lower - at least not anywhere near low enough to tempt a buyer.
I also don't see a way out of it anymore.
They'll continue to draw their interest on their gift. We'll continue to freefall. They think they can sustain the club in the CCC on the cheap, meaning with budget signings and with bringing youth through our system. They are almost certainly wrong. They're ****ed, we're ****ed.

 

He's always been in and out but I wish he had been given the ball more second half yesterday because he had the beating of their full back and even though his decision making isn't always right he was our main threat.

 

At some point in the next year or so, the "debt" is going to increase unless they can constantly find sale-able talent through bargain buys and/or youth system. Trouble is inevitable relegation to League 1 lowers the sale value. The Allams either cut their losses and sell for what they can get, or risk losing more in the long term. I hope its the former but they are unpredictable stubborn ****ers so who knows

 

Do people understand football? He had their right back on toast all game he set up our goal and scored the 2nd and hit the post with another. He put 3-4 dangerous crosses in. Granted he wasted a few but if he had a left foot he wouldn’t be here. Everything positive we do comes through him, he literally creates everything. Without him we’d be absolutely doomed.

 

In my view, they will continue to pay down the debt. As I say, it’s not worth £50m and obviously nobody is interested at that price.

Pay £25m off and sell for £25m, maybe. The chances of them adding to that debt is low to nil.

It’s rumoured they want the money and dibs on the Maguire and Robertson add-ons, so more like £70m which is preposterous of course.

 

Maybe of note, Sheffield Utd, worth c£100m, with own ground, hotel and Premier League income.

Hull City..... £50m?