This is a Link to an article in the Grauniad summarising 2014/15 finances for all premier league clubs. Well worth a read. Premier League finances: the full club-by-club breakdown and verdict https://www.theguardian.com/footbal...ue-finances-club-by-club-breakdown-david-conn
Sorry about that. If a mod can amend the link please as it's a good talking point while we ponder Saturday.
Done. Here's our bit... Hull City Accounts of Hull City Tigers for the year to 30 June 2015 • Ownership Owned by Assem Allam via his company, Allamhouse, registered in the UK • Turnover 19th highest in League £84m, same as 2014 • Income No breakdown stated in accounts • Wage bill 19th highest in League £56m, up from £43m in 2014 • Wages as proportion of turnover 67% • Profit before tax £12m, following £9m profit in 2014 • Net debt £77m • Interest payable £2.7m • Highest-paid director Assem Allam’s company was paid £165,000 for his and son Ehab’s services State they are in: An ultimately unhappy relegation season, with the romance of Hull having a Premier League club soured with the owner, Assem Allam, pursuing his Hull Tigers name change and ejecting community sports groups from the Airco Arena alongside the stadium. The name change was opposed by many fans, and relations have not wholly mended this season, despite City reaching the Championship play-off final. The accounts, as ever, show that Allam runs the finances responsibly, keeping wages manageable. Allam’s loans, which increased by £13m to £78m, charged 4% interest, stated to total £2.6m during the year.
The most striking thing for me is Burnley. They really have taken a fantastic - yet entirely sensible - approach to the riches of the promised land. Its hardly rocket surgery is it?
Just as Blackpool did... Edit to add: this is probably why Burnley are predicted to be the most successful team in the country over the next 1000 years.
I'm not the Allam's biggest fan but no one else on this planet would have give the club an unsecured multi-million pound loan at 4% And £165k between 2 directors is peanuts on a turnover of £84m
Erm, no they didnt. Oyston asset stripped, as Im sure you're well aware. Burnley paid off debts and invested in infrastructure.
You're both missing the point. I'm contesting that it was a "gift to the community", as we're told at every available opportunity. If the Allams said "we're loaning the club money and charging a lower than market interest rate whilst paying ourselves a reasonable yet not lavish salary" then I wouldnt have anything to say about it. However they continually dress it up as something it's not.
You do realise that rocket surgery is an oft used, widely accepted term to suggest something is even harder than rocket science or brain surgery, right?
The 'Gift to the Community' was simply the continuation of the club in 2010. And when the name change was refused they have been on record stating that the club would be run for the benefit of the shareholders (ie themselves)
But it wasn't if they're getting paid for it. And are you suggesting therefore that they didn't charge interest or pay themselves prior to the name change being refused after which they continued to use it at every opportunity anyway?
You stated "I'm contesting that it was a "gift to the community", as we're told at every available opportunity" I'm merely stating that the 'gift' reference has not been used in recent years
From today's HDM: "He's the reason why I came," said Bruce. "He's a genuinely good man. Who would have bought a club for £40m when he could have had it for a pound? Only he could do something like that I would have thought. Most would have let it go into administration, most would have let the debts not be paid but he wanted it and bought the club for the community."
