I've said before that, if they can get the accounts into a position where it has net assets (and outstanding creditors that can be satisfied), is there anything to prevent them winding up the company (rather than selling it)? It's times like this that I'm glad they're local. It's the only bit of leverage the supporters appear to have over them.
Eastbourne ... There is nothing to prevent them winding it up. And that looks increasingly likely to me. The owners are clearly taking out every penny they can, and it is no exaggeration to say that Hull City is already in a new relegation struggle. They risk going down next year, and possibly down again the year after. And what exactly are the assets? Just a few third-rate players and a bit of sponsorship, that's what. It is an empty shell. I don't see any serious new owners coming along this side of 2020. In American business lingo, Hull City isn't a star or question mark, it is right now a cash cow, and very soon it will be a dog. https://www.qualitylogoproducts.com/blog/stars-question-marks-dogs-cows-bcg-matrix/
If they wind up the club it will cease to exist. They will also have to wind up the SMC because it will only have Hull FC's income. Assem and Ehab Allam could end up being disqualified from acting as company directors. After next season our income will be less than £6 million a year unless by some miracle we get promoted. The Allams have to get rid of the high earners and replace them with players that can compete in the Championship without breaking the bank or the fair play rules. The problem is they have shown no evidence they can balance the books and get in the right sort of players to make us competitive.
The basic award for this season totals £2.3million (up from £2.084million last year) and will be given from the EFL to every side in the Championship, meaning Wolves, who currently top the league and Sunderland, who prop it up will get that same payment. This payment comes from the TV deal that the Championship have with Sky Sports. The solidarity payment comes from the Premier League and is handed out to Championship sides in an effort to ensure that the financial gap between the two divisions does not get too wide. Again, this is distributed equally and will total £4.5million this season - up from £4.3million last year The EFL hand out Championship clubs £100,000 for every home game that a club hosts on Sky Sports, with that figure going up to £120,000 for games being played on a Sunday and £140,000 for Thursday games. Visiting sides are awarded £10,000 per game. Adding in season gate fee, sponsorship, cup games etc delivers a total income of c£11-£14M for the season (excl transfer funds)
Thanks Ehab has a bit more money to spend than I thought to spend but the basic principle still applies. He has to put together a team we can afford that can compete in the championship.
Good question. Wasn't it this summer for the coming new season? Will it turn out to be just another lie / load of bollocks, or will it actually happen? Funny our media men haven't been questionning e:**** about it?
Maybe, but he definatley said he’d hand it over to someone to run. Just can’t remember when he said that would be
He’s said many things which have turned out to be bs. He will run the club into the ground all by himself.
I believe it was Geoff Bielby who said the old man had told him at one of those farcical fans meetings that he'd had enough and would walk away, no matter what at the end of last season. Didn't say anything about what the idiot son was going to do though.
