I owe you all an apology. I seriously underestimated how much the Allams have spent during their tenure of Hull City. The true figure is £534.2 million, yes that's right they've spent over half a billion pounds and we have sweet fa to show for it except a few good memories. Here is how its calculated: Turnover £ million Year ending 2010 47.5 2011 27.0 2012 11.0 2013 11.0 2014 84.5 2015 84.0 2016 42.0 2017 117.0 Total 424.0 Profit from player sales during the same period £50.2 million Outstanding loan to Allamhouse £60 million.
That's what the club's spent, rather than what the Allams have spent, they've had their back (or least could have had if they took out this season player trading money).
Turnover is the TV money, money from the sale of shirts etc, gate receipts, sponsorship, advertising, sale of programmes. 99% of that will be cash in the bank. I'd say it is perfectly safe to use turnover to say how much money Hull City has earned and subsequently spent.
My apologies for not writing Hull City Tigers Limited under the stewardship of the Allams have spent over half a billion pounds. I'm sure most people will know what I meant. No point in speculating on how much of the loan has been repaid until we see Allamhouse Limited's accounts for their year end. That money will come from this year's income (including profit from player sales), which I didn't include in the figures. Its still a hell of a lot of money to have spent and have us end up in the same place, more or less, Bartlett left us.
When everything is finished with the Allams, the likelihood is that they will have spent nothing of their own money, and more than likely will walk away with a decent profit. They have already been paying themselves interest on the loans, so have made a better return on this money than they would at a bank. The point made is what I have been saying, that over their tenure we should now be a reasonably established EPL club like Stoke/West Brom etc, but through their mismanagement as Obadiah says we will be left more or less where we were 7 years ago, with no progress.
Exactly, despite having over half a billion pounds flow through Hull City's coffers they have achieved next to nothing with it. We have a few good memories and lots of bad ones. Their legacy is ultimately one of failure and bitterness.
One difference between the start and end of the Allams’ tenure might be that by the end the club is debt free. Time will tell on that.
with half the attendance and a squad worth significantly less than when they came - in truth their financial management in a time when the tv money was at an all time record has been a complete mess it will also be fans free
Actually I owe you an apology. I misconstrued the tone of the FB post. Note to self: Read all the message before declaring said post is bollocks.
From a purely clinical business perspective they’ve done a good job. From a running a football club perspective, they’ve failed miserably. Such a shame.
Yes . Take all the emotion out of it, and you see Ehab's catastrophic handling of his managers resulting the car crashes of the last 2 summers. No doubt he blames the lack of wealthy sponsors for the 'cuts' he has had to make, but maybe the failure to secure sponsors and investors is down to him rather than low gates, name changes, Councillors etc. When you have total control, you have to accept total blame.
They really haven't done a good job from a business perspective Happy. They thought they'd arrived in the promised land and thought it would never end. They didn't use any of that money to prepare for relegation, developing our own facilities or developing the strength of our squad. The owners of Burnley and West Bromwich Albion run their clubs as a business and are now reaping the rewards. They are prime examples of successful businessmen or women who also happen to own football clubs.
