Assem told you that, did he? It may be a very good reason though. I suggest you remember where you are, a public forum, open to debate. Like has been said, there is no denying what the Allams have done for the club, that will never be forgotten, however things turn soar, or just go wrong for one reason or another. Hull City cant live under Assem's wing forever. Allam Marine could go bust (bigger companies have), anything could happen which would have a direct effect on Hull City AFC. It's about being prepared for the future, not running into blindly.
He should stick ALLAM MARINE on shirts! The poor lads at Melton might get a bit of overtime from all the new orders coming in!
He didn't need to tell me that, you think he'd pay half the investment again in tax just to brag and say "look at me I just have you this massive amount of money". Only an idiot would do that.
We are prepared for the future. Because of Mr Allam. We have a future. Because of Mr Allam. FFS we have a club because of Mr Allam. Stop with the "howevers", they're speculative and unneeded negative bollocks. Do not accuse me of sticking my head in the sand either, that's almost as ****ing annoying. I swear there's a minority who want the club to fail and for the Allams to be the villains. GG that's an interesting point, I wonder why he hasn't sponsored us, would be very popular with the fans, and must be some tax breaks or benefits in it. Possibly he doesn't want to be accused of only looking after his vested interests, but I'd love to know why.
It's like banging your head against a brick wall... Allam's the messiah and nothing will ever go wrong. I'm off to pick my little one up from nursery, I might get a better level of conversation there too.
Just a reminder Bob, the club is owned by Allamhouse, not Mr Allam personally. Any business that has a £60m debt owed to it in its accounts will look to recoup some of that debt if possible. I haven't seen the latest accounts, but I'm not sure if the loan by Allamhouse is interest bearing or not. If it is, it is in the clubs best interests to reduce the amount owed. And as Bum Chin said, if Allamhouse ever wanted to sell the club, it would be a more attractive proposition if the debt was lower. Unless they are a supporter or a Russian/Arab squillionaire, who is going to pay £60m+ for Hull City AFC when it has very little by way of assets?
Childish and pathetic, if you dont appreciate the topic why dont you leave the thread rather than spreading your rose-tinted guff? This pretty much says it all. It's not about if\when\how the Allams want their money back, its the fact that there is a 60m millstone around our neck, however everyone appears to think we are debt free. The club will not be owned by the Allams for ever, even if we're talking 20/30 years down the line. There will become a time where it needs to be repaid - can it be written off\reduce (1p for every £ etc) by the debtor?
Wasn't it an interest free loan with no option to call it in. Ie if the Allams sell the club on with the loan not repaid, it's pretty much done and dusted, unless the new owners feel nice and fancy paying it back?
Well lets look at it another way then - what reason have we got to NOT pay it back? How can it possibly be a bad thing to be debt free even if it is to our owners?
Why start these doom and gloom threads if you don't like debate? Don't start throwing around accusations of being childish if you can't take them back.
Doubt it Bob. If there was no option to call in the loan it would be gift not a loan. I wouldn't have thought that it would be recorded in the accounts as a loan, and it wouldn't have been "secured" by mortgage over Cottingham, Ideal and the sub-lease at Prinny Quay
ok so allam plunged 60million to save the club right? and thats 60million spent on one of his assets (hull city) with no return. we are about to recive 120million from pl money right? now logic tells me if he wants his money back he could take his 60mmilion back and break even, whilst leaveing (not actually leaveing) the club able to run itself with its own money. thats what hes said he wants to do since the start right? it would be the allams breaking even (no profits gained and no losses) while the club is able to fund itself with no debts, sounds like a solid idea to me. no doubt some 1 will come and discredit everything i just said as to why its not that simple haha!! but in the long run i belive this is what papa allam wants to do, as and when possible he will do it.
Precisely, and there's nothing wrong with that. Just pay him his loan back and there can never be any issues with it whereas if we owe him £60 million and there is always even a 1% chance it could go sour, we'll be fooked.
yeah nothing wrong at all and i dont expect papa allam to take his money back if the club can't afford to fund itself as he said all along ffs. hes not going to suddenly leave is ****ed for the sake of getting his 60mil back!!! but if/when he can take it back you better belive he wil and good on him i would too
We've had this debate on here many times and it always falls on the fact that many on here don't understand how these things work. Assem can't call in the loan because the club doesn't have anywhere near enough assets to cover it. If we spent nothing this summer and played the same squad, he could bank the Premier League money for a year, then he could call it in, but he won't, as he'll own a depreciating asset, as we'll be losing games every week and relegation will become a certainty. As has been mentioned, the money is a loan rather than a gift, because it's the only sensible way of investing if you are to have any chance to recover any of the money in the future, without being shafted with an enormous tax bill. It's quite simply the only sensible way to structure a deal like the one that Assem did. The loan isn't interest free, I believe we're paying 6% a year on it, so Assem will be quite happy with the return he's getting at the moment. I assume that some of the money will be paid back over the coming year, though not the majority of it, as the value of the club just doubled and the only way it's going to stay at that level, is if Assem invests enough to keep us in the Premier League. There has always been too much concern over the terms of Assem's financial arrangements at the club, all of it is standard business practice and exactly what I'd have expected.
You would like to think this would put the argument to bed. But it won't. Because we have some on here who are desperate for the Allams to be villains. If they met Jesus Christ they'd think he was in it for the free nails and Crown of Thorns.
