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New owner confirmed…

Discussion in 'Hull City' started by Hutch-tiger69, May 30, 2016.

Page 936 of 1861
  1. Asterix

    Asterix Well-Known Member

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    Ah, so they did not conduct any investigation of the finances, nor carry out any due diligence, but only "discovered a mass of other unpaid invoices after they had taken control.." Or, as I put it, steamed in. But I would really like to know the amount they were owed for them to act so.
     
    #18701
    Asterix, Apr 8, 2021
    Large Elephant likes this.
  2. Chazz Rheinhold

    Chazz Rheinhold Well-Known Member

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    Not doubting you.
    So they put no money in?
    They charge interest of ?? Million a year?
    The debt is?? and they guarantee the debt?
    So whoever wants to buy the club buys the debt? Is that right?
     
    #18702
    Chazz Rheinhold, Apr 8, 2021
  3. originallambrettaman

    originallambrettaman Mod Moderator
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    The debt is to them personally, so obviously needs no guarantee and they’re effectively trying to get someone to repay their debt to buy it debt free.
     
    #18703
    originallambrettaman, Apr 8, 2021
  4. Chazz Rheinhold

    Chazz Rheinhold Well-Known Member

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    How much is the debt now?
     
    #18704
    Chazz Rheinhold, Apr 8, 2021
  5. originallambrettaman

    originallambrettaman Mod Moderator
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    £42m in the last accounts
     
    #18705
    originallambrettaman, Apr 8, 2021
    SW3 Chelsea Tiger likes this.
  6. Phinius T Bookbinder

    Phinius T Bookbinder Well-Known Member

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    Do we actually know a genuine price they want for the sale?
     
    #18706
    Phinius T Bookbinder, Apr 8, 2021
  7. TIGERSCAVE

    TIGERSCAVE Well-Known Member

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    I think it depends on the day, the temperature and the wind direction...
     
    #18707
    TIGERSCAVE, Apr 8, 2021
    Ken DeMange's Love Child and Howden Tigress like this.
  8. originallambrettaman

    originallambrettaman Mod Moderator
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    In a word, no.

    They’ve pretty much had all their original investment back in interest and group tax benefits, so anything they get for the club now is profit.

    If they sold the club tomorrow for £15m and wrote off the £42m debt, they’d still be £15m up (in reality they’ll have had some costs, so they wouldn’t actually be £15m up, but they’d still have made millions from their ownership).
     
    #18708
    originallambrettaman, Apr 8, 2021
    Howden Tigress, John Ex Aberdeen now E.R., SW3 Chelsea Tiger and 2 others like this.
  9. Mckechnie Orange

    Mckechnie Orange Well-Known Member

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    Do they own their ground? Big chunk of tha t fee might well be the infrastructure.
     
    #18709
    Mckechnie Orange, Apr 8, 2021
  10. Anal Frank Fingers

    Anal Frank Fingers Well-Known Member

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    Council owned
     
    #18710
    Anal Frank Fingers, Apr 8, 2021

  11. AmalCarb

    AmalCarb Well-Known Member

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    ...and mood swings.


    Allam’s OUT
     
    #18711
    AmalCarb, Apr 8, 2021
  12. Phinius T Bookbinder

    Phinius T Bookbinder Well-Known Member

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    Oh well looks like they are here to stay.
     
    #18712
    Phinius T Bookbinder, Apr 8, 2021
  13. Chazz Rheinhold

    Chazz Rheinhold Well-Known Member

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    WHAT COULD GO WRONG WITH DERBY TAKEOVER?

    The new owner of Derby is 29, claims to be a world champion boxer — 15 rounds fought and five wins — and held an advisory role at Sheffield Wednesday, who began the season with a 12-point deduction.

    He calls his company No Limits Sports Limited. And again we ask: what could possibly go wrong?
     
    #18713
    Chazz Rheinhold, Apr 8, 2021
    southerntiger likes this.
  14. Howdentiger2

    Howdentiger2 Well-Known Member

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    And people still think it's better to get the Allams out no matter what comes in afterwards
     
    #18714
    Howdentiger2, Apr 8, 2021
  15. askewshair

    askewshair Well-Known Member

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    Have you ever been close to someone who was in a relationship in which after a honeymoon period, they were constantly emotionally abused? Just curious
     
    #18715
    askewshair, Apr 8, 2021
    Large Elephant likes this.
  16. Howdentiger2

    Howdentiger2 Well-Known Member

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    Yes extremely close and the fact your even comparing that to the owners of a football club and it's fans is actually leaving me speechless and shocked
     
    #18716
    Howdentiger2, Apr 9, 2021
  17. originallambrettaman

    originallambrettaman Mod Moderator
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    If only...

     
    #18717
    originallambrettaman, Apr 9, 2021
  18. Chazz Rheinhold

    Chazz Rheinhold Well-Known Member

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    Highly successful man in the sporting field and made a right **** up of it.


    When owner Marcus Evans took over the club in 2007, the club were £32m in debt to Evans. Due to the club paying Evans around 5.4% interest on the debt every year, club accounts in 2012 showed that the figure had more then doubled to £67m and he hadn't converted any of it to equity.[15]

    After 11 years of Evans's ownership, the club finished bottom of the Championshipin 2019 and were relegated to League One, the third tier of English football, for the first time since 1957. Following relegation the club's debt, which is owed exclusively to Evans, rose from £95.5m to £96.3m.[16][17]
     
    #18718
    Chazz Rheinhold, Apr 9, 2021
  19. originallambrettaman

    originallambrettaman Mod Moderator
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    He did, but at least having ****ed it up, he did the decent thing and ****ed off.
     
    #18719
    originallambrettaman, Apr 9, 2021
    Large Elephant, Gone For A Walk, rovertiger and 1 other person like this.
  20. AlRawdah

    AlRawdah Well-Known Member

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    I think Ipswich fans will tell you he stuck around for a long time after he was welcome, before he finally ****ed off. Crucially Evans could never get the club’s finances back on an even keel.
     
    #18720
    AlRawdah, Apr 9, 2021
    Chazz Rheinhold likes this.
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