Allams out

[Trumpton Tiger.]

The club needed investment and they were prime targets, one loan led to another......

The Athletic has learnt Allam first held talks in January 2010 with then owner Russell Bartlett, an Essex-based businessman, proposing to invest £5 million in return for a minority stake. That never materialised but after relegation back to the Championship came an outright takeover bid.

A deal was provisionally agreed that would see Allam take on 80 per cent of the shareholding, with Bartlett retaining 20 per cent of the club he had owned since 2007. A sum of £12 million would be injected into the club in return for equity.

But by December, with the club’s financial health rapidly deteriorating, Allam proposed a new deal: ownership would be relinquished by Bartlett in return for £1. “He felt like he had no option but to agree,” said a source close to the former owner.

Reading that (lifted from this article - https://theathletic.com/2260075/2020/12/16/allams-hull-city/) I cannot decide whether money was put in, or just discussed. It is very ambiguous, "provisionally agreed". But I will accept your statement that they had indeed loaned the club money. The acceptance of this as true, could explain the other debts that far from coming out of the woodwork, he was very well aware of.

A development plan with a budget of 100 million plus is for everything on the right hand side, or left, depending which direction you stroll along Walton Street. The fairground and West Park. It was never going to happen, was it? You would be hard pushed to spend fifty quid, never mind millions, further developing the area on the lease plan. A tad unfair to bandy HU3 into the discussion. It extends way beyond Walton Street, and that was all he wanted. Or Siemens, for obvious reasons. Or really, HKR. Amazing what can happen when there is sweetness and light between the council and business people. Not daily mail front page spats.

Any development on West Park or on land surrounding the stadium must be good news for HU3 because that is where it is. The stadium was supposed to kick start the economy in that area yet it is still one of the most deprived areas in the UK twenty years on. We also all accept it is carved in stone that Walton Street fairground is not for sale. Is this just to protect a travelling fair that operates for just seven days out of 365? If so, don't you think that is a tad short sighted by the ruling council?
The Siemens and the Craven Park/land deal proves the council can move heaven and earth when it suits them, deals can be struck, more's the pity we/HCC/anyone, hasn't had the chance to build on the undoubted benefits presented by building the stadium there in the first place. I keep repeating myself but this was one huge opportunity for club and city lost, possibly forever, because a lack of professionalism and will on both sides to agree a deal. Manchester City Council managed it quite well to develop Moss Side on the back of the football club's success. Anyhow UTT!

 

[Obadiah]

As in life, Assem Allam is just as divisive in death.

Assem Allam had two offers for Hull City on the table before he bought the club. One for £30m without the freehold and one for £60m with the freehold. He held a meeting with Cllr Brady at which Brady promised him the freehold. Brady reneged on the verbal agreement when he needed Garaghty's vote to remain leader of the Labour Group. The council then offered him a joint venture to develop the land around the KC at the meeting with Geraghty but Allam refused.

Some of this came from individuals within Hull City, some of it from Assem Allam at the meeting with supporter representatives and some from the Council.

Assem Allam was a Bartlett with money. Despite income of over half a billion pounds the infrastructure of the club remains, more or less, as it was under Adam Pearson. We had some great memories, some bad memories but it was like winning the lottery and spending it all on drink. When the money runs out your left with an hangover. For me the reason we didn't end up with a worse hangover and deeply in debt id down to Ehab Allam. For me he saved Hull City from Bruce and his old man.

 

[Obadiah]

Any development on West Park or on land surrounding the stadium must be good news for HU3 because that is where it is. The stadium was supposed to kick start the economy in that area yet it is still one of the most deprived areas in the UK twenty years on. We all accept it is carved in stone that Walton Street fairground is not for sale. Is this just to protect a travelling fair that operates for just seven days out of 365? If so, don't you think that is a tad short sighted by the ruling council?
The Siemens and the Craven Park/land deal proves the council can move heaven and earth when it suits them, deals can be struck, more's the pity we/HCC/anyone, hasn't had the chance to build on the undoubted benefits presented by building the stadium there in the first place. I keep repeating myself but this was one huge opportunity for club and city lost, possibly forever, because a lack of professionalism and will on both sides to agree a deal. Manchester City Council managed it quite well to develop Moss Side on the back of the football club's success. Anyhow UTT!

Assem Allam could have developed West park with Hull City Council, along the lines of the Manchester City development, another club that doesn't own it's ground. Assem Allam refused. All he was interested in was getting the freehold.

 

[Trumpton Tiger.]

Assem Allam could have developed West park with Hull City Council, along the lines of the Manchester City development, another club that doesn't own it's ground. Assem Allam refused. All he was interested in was getting the freehold.

Don't you think offering Assem Allam a lengthy leasehold, meaning a lot longer then 20 years, 100 years, maybe longer, perhaps? might have been an icebreaker?

 

[Chazz Rheinhold]

As in life, Assem Allam is just as divisive in death.

Assem Allam had two offers for Hull City on the table before he bought the club. One for £30m without the freehold and one for £60m with the freehold. He held a meeting with Cllr Brady at which Brady promised him the freehold. Brady reneged on the verbal agreement when he needed Garaghty's vote to remain leader of the Labour Group. The council then offered him a joint venture to develop the land around the KC at the meeting with Geraghty but Allam refused.

Some of this came from individuals within Hull City, some of it from Assem Allam at the meeting with supporter representatives and some from the Council.

Assem Allam was a Bartlett with money. Despite income of over half a billion pounds the infrastructure of the club remains, more or less, as it was under Adam Pearson. We had some great memories, some bad memories but it was like winning the lottery and spending it all on drink. When the money runs out your left with an hangover. For me the reason we didn't end up with a worse hangover and deeply in debt id down to Ehab Allam. For me he saved Hull City from Bruce and his old man.

Oh to be saved from Steve Bruce
That man was terrible for our club!!!
FFS

 

[Trumpton Tiger.]

Oh to be saved from Steve Bruce
That man was terrible for our club!!!
FFS

I think he means the debt Chazz. Bruce was our most successful manager on the field, great days, but it came at a cost. Believe we were nearing £100m in the red at one stage. On top of that AA wasn't in the best of health. I know we got a sizable amount of the transfer money back when players were sold on but that's hindsight. I seriously considered sending my pass back to the club on the day I heard Steve Bruce had walked.

 

[originallambrettaman]

There's some old rubbish being repeated on here, there was never any question of West Park being developed, it's protected land.

I don't believe there was any offer of a freehold sale either, it was not in Geraghty's gift to make such an offer and Assem clearly only ever heard what he wanted to hear, rather than what was actually said. Two years after the name change was rejected, he was still doing interviews claiming there was only ever 2-300 fans against him. He also wouldn't entertain a joint venture, or an extended lease, it was a freehold or nothing (there was never actually a detailed plan put forward for any development anyway, it was just vague waffle).

He did some good things, but he was fairly bonkers.

 

[highpeak tiger]

I seriously considered sending my pass back to the club on the day I heard Steve Bruce had walked.

That was the point that I decided to stop putting any money in until the Allam's left. A drop in the ocean I know but that's how I felt.
I was not a fan of Assem but deciding not to enter a multi-million pound deal with a group of people he did not trust and held in complete contempt (the council) was probably a wise decision on his part.

 

[Duke Silver]

Was your family member actually in the meeting?

Yes

 

[SW3 Chelsea Tiger]

Some on here have a bigger yacht than Ehab’s.

FACT! I’m heading out to my toy next week. Bit of winter sunshine

 

[Obadiah]

Oh to be saved from Steve Bruce
That man was terrible for our club!!!
FFS

After beating Sheffield Wednesday we owed £126.4m (£29.9m was owed of a bank). We had a wage bill of around £50m when the relegation clauses were reversed. We were headed for administration if the spending spree continued.

Even with a turnover of £117m and all Ehab Allam's cost cutting we still ended up trade creditors of £52.2m, including £21.3 owed to a bank and £8.1m owed to the tax man.

I'd say we were in the **** financially when Bruce got us promoted the second time. The years in the Championship and League 1 was the hangover we suffered from Bruce's tenure as manager.

 

[Kevin Francis]

As in life, Assem Allam is just as divisive in death.

Assem Allam had two offers for Hull City on the table before he bought the club. One for £30m without the freehold and one for £60m with the freehold. He held a meeting with Cllr Brady at which Brady promised him the freehold. Brady reneged on the verbal agreement when he needed Garaghty's vote to remain leader of the Labour Group. The council then offered him a joint venture to develop the land around the KC at the meeting with Geraghty but Allam refused.

Some of this came from individuals within Hull City, some of it from Assem Allam at the meeting with supporter representatives and some from the Council.

Assem Allam was a Bartlett with money. Despite income of over half a billion pounds the infrastructure of the club remains, more or less, as it was under Adam Pearson. We had some great memories, some bad memories but it was like winning the lottery and spending it all on drink. When the money runs out your left with an hangover. For me the reason we didn't end up with a worse hangover and deeply in debt id down to Ehab Allam. For me he saved Hull City from Bruce and his old man.

Have I been whooshed here?

 

[Ric Glasgow]

After beating Sheffield Wednesday we owed £126.4m (£29.9m was owed of a bank). We had a wage bill of around £50m when the relegation clauses were reversed. We were headed for administration if the spending spree continued.

Even with a turnover of £117m and all Ehab Allam's cost cutting we still ended up trade creditors of £52.2m, including £21.3 owed to a bank and £8.1m owed to the tax man.

I'd say we were in the **** financially when Bruce got us promoted the second time. The years in the Championship and League 1 was the hangover we suffered from Bruce's tenure as manager.

I believe we'd have suffered that same hangover irrespective of whether it was under Bruce or anyone else.It costs money to try and compete at the highest level and try we did...

I'll always appreciate the Allams giving us that chance,of course there was some unsavoury stuff intermingled with the good,and the attempted name change was the final straw for some but overall I thoroughly enjoyed the ride.

Let's see if the new owner is prepared to bankroll an attempt at reaching the Premier League...UTT.

 

[PLT]

I believe we'd have suffered that same hangover irrespective of whether it was under Bruce or anyone else.It costs money to try and compete at the highest level and try we did...

I'll always appreciate the Allams giving us that chance,of course there was some unsavoury stuff intermingled with the good,and the attempted name change was the final straw for some but overall I thoroughly enjoyed the ride.

Let's see if the new owner is prepared to bankroll an attempt at reaching the Premier League...UTT.

I think this is a misconception that a lot of people suffer, and it's been all over this thread. The name change idea was certainly disagreeable and against a lot of people's principles, but it was far from the worst thing about Assem or Ehab Allam.

For me at least, far more troubling were all the little things they did in the fallout once it became clear they were in opposition with the fans. All the needless lies, the acts of pure spite that gained them nothing, the way they'd go after people behind the scenes; using their contacts to try and ruin people's careers because they were prominent protest group coordinators who spoke out against them, the way people were treated by them in private and how they'd spin it for the public, the comments they'd make where they'd deliberately spin their message in an obviously dishonest way like a government minister would.

Lots of owners make poor decisions, fail to invest and so on. But there were more fundamental issues around their character and behavior.

 

[Ric Glasgow]

I think this is a misconception that a lot of people suffer, and it's been all over this thread. The name change idea was certainly disagreeable and against a lot of people's principles, but it was far from the worst thing about Assem or Ehab Allam.

For me at least, far more troubling were all the little things they did in the fallout once it became clear they were in opposition with the fans. All the needless lies, the acts of pure spite that gained them nothing, the way they'd go after people behind the scenes; using their contacts to try and ruin people's careers because they were prominent protest group coordinators who spoke out against them, the way people were treated by them in private and how they'd spin it for the public, the comments they'd make where they'd deliberately spin their message in an obviously dishonest way like a government minister would.

Lots of owners make poor decisions, fail to invest and so on. But there were more fundamental issues around their character and behavior.

I never said anything about it being the worst thing the Allams did,I said it was the 'final straw' for some?

The 'final straw' concept points to an act,and it could be the most trivial of things, that finally tips someone or something over the edge.That appears to have been the case with the name change debacle and it appeared,at the time,to tip some of the fans 'over the edge' in terms of backing the Club or indeed the owners.I know as fact that some supporters saw it as reason enough to up stumps and look for an alternative pastime..

As for the Allams allegedly ruining people's careers through spite,do you have any examples?

 

[originallambrettaman]

I should have PM'd that really, but there's a lot more to it and it's not really appropriate to post the details on here, so I've got rid of it.

 

[Trumpton Tiger.]

I should have PM'd that really, but there's a lot more to it and it's not really appropriate to post the details on here, so I've got rid of it.

A wise move.

 

[Plum]

A wise move.

Closing the thread would be wiser still.

 

[Gone For A Walk]

I think this is a misconception that a lot of people suffer, and it's been all over this thread. The name change idea was certainly disagreeable and against a lot of people's principles, but it was far from the worst thing about Assem or Ehab Allam.

For me at least, far more troubling were all the little things they did in the fallout once it became clear they were in opposition with the fans. All the needless lies, the acts of pure spite that gained them nothing, the way they'd go after people behind the scenes; using their contacts to try and ruin people's careers because they were prominent protest group coordinators who spoke out against them, the way people were treated by them in private and how they'd spin it for the public, the comments they'd make where they'd deliberately spin their message in an obviously dishonest way like a government minister would.

Lots of owners make poor decisions, fail to invest and so on. But there were more fundamental issues around their character and behavior.

This.
The name change could hardly be a 'final straw' for most people, as it was one of the early stunts!
I didn't like the name change proposal one bit, but, as you say, it was all the other continuing stuff, some of which was worse than the name change proposal (as bad as that was).

 

[Gone For A Walk]

After beating Sheffield Wednesday we owed £126.4m (£29.9m was owed of a bank). We had a wage bill of around £50m when the relegation clauses were reversed. We were headed for administration if the spending spree continued.

Even with a turnover of £117m and all Ehab Allam's cost cutting we still ended up trade creditors of £52.2m, including £21.3 owed to a bank and £8.1m owed to the tax man.

I'd say we were in the **** financially when Bruce got us promoted the second time. The years in the Championship and League 1 was the hangover we suffered from Bruce's tenure as manager.

And who was ultimately responsible for the purse strings? Not Bruce.