A Different Perspective on Assem Allam

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In investment terms he made nowt -bought for circa 12m with borrowed cash and sold for nothing. It looks like he paid himself a ridiculous salary from club finances at least in one financial term, so in real terms who knows?

He borrowed the money to buy us, ultimately couldn't service the debt (exacerbated by relegation and the property/financial crash) and was very fortunate to sell us for £1 after Allam had pacified his creditors to the tune of £30m (£20m cash, 10m guarantees BEFORE purchase....!)

Bartlett and Hull City were very lucky indeed. Allam in the meantime effectively paid thirty million quid for a club worth consideraby less than nothing.

We were basically 30 - 40m up the ****ter in terms of liabilities with assets worth a fraction of that amount. Bartlett would have done his best to teflon coat himself, but there's a reason he was happy to walk away with nothing -and that is because banks and thetaxman effectively owned the club at the time he left anyway, with him utimately liable for the considerable (£30m) shortfall.

What Allam did to buy the club made no business sense whatsoever. He'll be lucky to get his money back even when he does sell.

It is a strange thought but Allamhouse haven't just financed the second premier league campaign but to all intents and purposes the first as well.

In terms of Bartett's personal wealth it is impossible to say whether or not he came out better or worse as a direct result of owning hull city, but he was a very lucky man indeed that the Allams came in when they did, and we are very lucky indeed Hull City A.F.C isn't currently playing North Ferriby in a local derby after making our way back from the 6th tier of non league. Administration wasn't a viable option, I **** you not.

It would have been liquidation, new club, new start. Perhaps the name and trademarks would have been sold to the new club but 1904 would have been substituted for 2010 on the shirt, put it that way.

Whilst I'm not in favour of the name change and see it as unnecessary, I could absolutely see how it would stick in Assem's craw the fact that the fans choose to resist his changes based on a heritage that would simply no longer exist in its present form without his own, largely philanthropic, £30m gesture in 2010.

Though of course for most fans ignorance is bliss.
 
if the real name of the club is so bad and the word "city" is whatever he said it was, whyever did he try to buy car number plate HU11 CTY in march last year?

as others have said, how could the club get better global exposure than by playing in a cup final? and once that exposure had happened, why on earth would anyone want to waste it all with a name change? from a marketing point of view, does that make any sense at all?
 
Mr. Hat said:
"Assem can call the club what he wants. He paid for that right when he saved us from being wound up."

The opening line was enough to discount the rest as bollocks. Sorry Happy.
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Same for me.

As I keep saying as an analogy - if you rescue a cat or dog from being drowned in a sack, it does not then give you the right to beat and abuse it for the rest of its life.
 
The Omega Man said:
Its easy.

Assem Allam still maintains that a hotel and development of the kc would generate commercial funding that would support the club.

It doesn't work. He has got it wrong.
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That's the kind of thing Reading tried with the whole Madjeski Complex - I know, I've stayed at the hotel there. Doesn't seem to have done much for the football club really.
 
x said:
if the real name of the club is so bad and the word "city" is whatever he said it was, whyever did he try to buy car number plate HU11 CTY in march last year?

as others have said, how could the club get better global exposure than by playing in a cup final? and once that exposure had happened, why on earth would anyone want to waste it all with a name change? from a marketing point of view, does that make any sense at all?
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Depends how you interpret "hull city" and who you are actually trying to market "Hull City" to.

Of course you can register a " hull tigers" trademark and build an offshore marketing strategy around it to some sort of effect - no need for a name change.
The ploy seems to be to keep the issue in the headlines. Assem is of limited wealth and is looking to create a legacy. Is it too much of a jump to suggest this is more a "Come and buy us" message based on global marketing potential than about sellingshirts in China?
 
Altrincham Tiger said:
That's the kind of thing Reading tried with the whole Madjeski Complex - I know, I've stayed at the hotel there. Doesn't seem to have done much for the football club really.
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Is it not possible that it allowed Madjeski himself to step aside leaving the club with an income stream he didn't have to fund himself?

Unless you are abramovich, mansoor or bill gates then the pot is always finite. Some pots more finite than others.

Something I am sure of is Reading would have less sustainable income without it.
 
Chazz Rheinhold said:
How many do you think he's alienated castro? . People on the internet- oh yes they are up in arms. But how many season pass holders?
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3,000 pass holders didn't renew this season, not all because they've been alienated obviously, some simply won't ave been able to afford the price hike, but that's how many we lost this season.
 
We're Hull City AFC and we will remain Hull City AFC, the ramblings of a man who unfortunately seems to be in the early throws of dementia will have no bearing on this.

If he feels that he needs to sell the club as a consequence, then that's entirely up to him. Obviously the 'name change will generate major revenue' is complete bollocks and the 'I'm doing it because I can't expand the stadium' is equal bollocks, the stadiums available if he wants it.

Yesterday, our owner made a fool of himself, he stated as fact things that were complete nonsense and it was quite sad to see an old man who's obviously well past his prime, rambling in such a ridiculous manner.

Though some of it was quite funny.

Thanks Assem, for all that you have done for the club, but please stop being an arse, there's a good chap.
 
armchairfan said:
One of his points seemed to be that he couldn't take us to that next level, and then he said his dream was top 5. That's a contradiction and I think the name saga is just a smokescreen. I don't believe he could make us top 5, he doesn't have the money and I doubt he ever would. Lower midtable is a possibility, but a richer owner is needed to fund anything higher.
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you ****ing thick? that makes perfect sense. Top 5 is the next level as far as Im aware.
 
Am I living some sort of groundhog day. Its a never ending cycle of the same ******s posting the same pro name change cr@p that has no financial viability. I suggest the mods ban them.
 
SuitedandBooted said:
Am I living some sort of groundhog day. Its a never ending cycle of the same ******s posting the same pro name change cr@p that has no financial viability. I suggest the mods ban them.
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Listen Princess, if it scares you, stay on CI where you feel safer.
 
Siegfried's cat said:
As a Hull resident (and not a City fan in this instance) why should the Council give him the KC stadium (which cost approx. £45 to build), just on the assumption that building a hotel, etc. would develop the area? Not being funny, but who would come to a hotel there when we have a lot of better located hotels that probably aren't full. No need for a supermarket or shops at the KC as Tesco and St Stephens better located in town. Sports academy - is this a posh name for a gym/pool? again already have surfeit of facilities in the City, and people tend to go for the most convenient or cheapest option so no guarantee these would make any money.

As a tax payer I would not be happy that such an expensive asset was given away.
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The "cost" of the stadium is usually overstated, as it tends to include all of the other associated costs, not just building a stadium, but it's a nonsense anyway as the price is the value of the land, which is very low because it has a stadium stuck on it.

Also, my understanding from several sources is he didn't ask for the stadium for free.
 
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