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New owner confirmed…

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

  1. Mr Hatem

    Mr Hatem Well-Known Member

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    So he is black and white not red and white. What about Hull City?
     
    #25281
  2. Mckechnie Orange

    Mckechnie Orange Well-Known Member

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    I agree. They need to go. Just like all of the others but they'll leave us in better shape than most have financially and academy wise.
     
    #25282
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  3. Gone For A Walk

    Gone For A Walk Well-Known Member

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    I sort of see the point about the state of the club, but they leave us with the same (near enough) debt of £30million-ish and no new tangible assets. That £30m debt will basically form the balance sheet starting point under AI. Granted, there are no big legacy player contracts, because they were running us on a shoe string, heading only one way. Can see it both ways.
     
    #25283
  4. SydneyTiger14

    SydneyTiger14 Well-Known Member

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    I would say the improvement to the Academy is a big plus even if it's not a tangible asset per se.

    Won't the debt be wiped under Acun? As the debt is owed to the Allam's, I would have thought the entire debt would have been part of the purchase price, meaning that he would inherit a debt-free club. Otherwise you're suggesting that Acun will pay 30m for the club and then immediately owe another 30m to the Allams.
     
    #25284
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  5. Chazz Rheinhold

    Chazz Rheinhold Well-Known Member

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    You keep saying this heading only one way
    Why? Did yousay it when we were relegated to division 1? What happened?
    The prospective new owner keeps saying how attractive the club is re the way the allams have managed it all.
    The academy is flourishing
    Look at the recent goals scored by them.
    Like all clubs in this division were at the mercy of a crap manager or crap or unmotivated players. that is all.
     
    #25285
  6. charon-the-ferryman

    charon-the-ferryman Well-Known Member

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    best of everything, pipes, percussion and those famous colours orange and black
     
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  7. The Omega Man

    The Omega Man Well-Known Member

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    The inherited debt was over £200m
     
    #25287
  8. Tickton Tiger.

    Tickton Tiger. Well-Known Member

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    And unpaid invoices by the sack load arriving with every post. Some of the staff hadn't been paid for months too. Then they 'discovered' Bartlett had bought the club off Pearson via a loan ( mortgage) taken out on the stadium which also needed paying back.
    Although I thought the original debt they knew about was in the region of £30m plus all the other bills.
     
    #25288
    Last edited: Nov 24, 2021
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  9. 1MoreAgain

    1MoreAgain Well-Known Member

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    Supports Hull City and he is a red and white.
     
    #25289
  10. Asterix

    Asterix Well-Known Member

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    That is amazing. The longer the story of how much City were in debt at that time is told, the higher and higher the numbers rise. Were do you get 200 million from? That has never been shown in any accounts?
     
    #25290
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  11. BillyBlysPaperboy

    BillyBlysPaperboy Well-Known Member

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    Came across Neil in Londesbrough St, after a City game we went way back to when we were in short trousers.
    I was living down South at the time think he was living in Boston Lincs. Never saw him again then heard through his sister that he had passed away. A really nice guy. RIP Neil

    Billy B
     
    #25291
  12. originallambrettaman

    originallambrettaman Mod Moderator
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    Erm, what?
     
    #25292
  13. The Omega Man

    The Omega Man Well-Known Member

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    ****ing funny isn’t it, no challenge when a poster puts £30m and the accounts show £41m for the first year.
     
    #25293
  14. Asterix

    Asterix Well-Known Member

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    How ever expletive funny you may find it. You cannot make numbers up like that.

    The perceived wisdom at the time, was 24 million to the IRS immediately, walk through the door settle in and discover another 24 million lurking in the ledgers. Where have you suddenly magicked another 152 million from?
     
    #25294
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  15. originallambrettaman

    originallambrettaman Mod Moderator
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    Even Assem, who's rather prone to exaggeration, claims it cost a total of £30m cash and another £10m in debt guarantees.
     
    #25295
  16. SW3 Chelsea Tiger

    SW3 Chelsea Tiger Well-Known Member

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    i don’t think it was that high mate, plus you need to balance it out against income. Prem payments are 150mill + per season.
    It wasn’t as bad as your figure suggests
     
    #25296
  17. originallambrettaman

    originallambrettaman Mod Moderator
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    The accounts for the year Allam took over actually show £26m was put in initially.

    The first full years accounts after the takeover show £41m, but that wasn't debt, that included millions in fees (and additional wages) for Simpson, McClean, Fryatt, Chester, Stewart, Evans, Dudgeon and Hobbs.
     
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  18. The Omega Man

    The Omega Man Well-Known Member

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    I posted quite deliberately an abstract figure.
    £30m was no different to £200m it isn’t a true figure.
    The debt to Allamhouse was £41m in the first year and rose to £48m in the second year.
    That’s actual debt, money owed that interest was paid on.
    I knew full well that people would jump down my throat, because that is just how it is.
    Post something negative about the Allams and not a word.
     
    #25298
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  19. SW3 Chelsea Tiger

    SW3 Chelsea Tiger Well-Known Member

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    well it is different ….10milll or 170mill difference. I don’t see your point at all on this one
     
    #25299
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  20. SydneyTiger14

    SydneyTiger14 Well-Known Member

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    Well yeah, because you posted something hyperbolic and clearly untrue, of course people pointed out it wasn't true.

    If people made hyperbolic, slanderous claims about the Allams people would also point out they weren't true.

    Not too sure what point you were going for.
     
    #25300

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