So now we know...

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I see why the Allams won't do business with Leicester now.. you don't pump that sort of money into a club, see the manager you appointed walk away and then come back trying to buy the best players for knock-down prices.. NP has a nerve..
 
PattyNchips said:
I am not a follower of people just cos they do the odd good deed.
I am a naturally suspicious person, I am grateful for what the Allams have done, but at what cost?
there is no such thing as a free lunch.
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Its not just the football club they've done things for the whole city that have nothing to do with football, like helping the Uni and even the eggchasers
 
Ricardo said:
As I said earlier as well, withdrawing funds from the club to produce a profit now would also be rather inefficient from a tax point of view, either income if done as a dividend, or capital gains (we're talking about making a profit) if it's through the sale of shares to another individual or to the club itself (reducing number of issued shares).
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Ricardo is 100% right. You are better off lending the club the money so that you can always get it back tax free if you sell in the future. Nobody knows what is going to happen years down the line. It doesn't make sense not being tax efficient. In the same way, the council is sensible to not hand over the stadium without safeguards.
 
Suspicion (fortunately limited to a very small minority) of the Allams seems to be based on the belief that, as they are businessmen, everything they do is business, or for business reasons. Nobody is so monodimensional, and the Allams are also family men, community members, etc. Credit where credit is due.
 
PattyNchips said:
I will be eternally grateful for what the Allam's have done, don't get me wrong, but did they have to assume ownership?
couldn't they have left it where it was?
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If the final amount had stopped at a sensible level the Allams would have given the supporters a large percentage of the shares. In the days leading up to the sale the other investors dropped out, as the debts kept being uncovered. Hull City was 45mins from closure. Assam Allam decided at that point that the only way to afford the club was to be able to build on the sporting village concept.
This was never about him making anything more than a very generous donation to the city, it turned out to be a very expensive purchase that he cannot afford to give away.
I was at that time trying to gather support for a fans buy out. The investment banks that I spoke to would not work with a club with so much hidden debt and they advised me not to proceed. I needed to be able to raise 8m and could not make the share option figures work. The banks felt that there would not be enough support in Hull to pay for the shares at a realistic level.
As it stands now, the KC could hold the key. I have the basic idea of how it would work, but nothing more, like my novel it's on the back burner, I dont have the time to take it forward and until I have something worth putting forward there's no point in speaking to Assam Allam.
 
Mel U said:
If the final amount had stopped at a sensible level the Allams would have given the supporters a large percentage of the shares. In the days leading up to the sale the other investors dropped out, as the debts kept being uncovered. Hull City was 45mins from closure. Assam Allam decided at that point that the only way to afford the club was to be able to build on the sporting village concept.
This was never about him making anything more than a very generous donation to the city, it turned out to be a very expensive purchase that he cannot afford to give away.
I was at that time trying to gather support for a fans buy out. The investment banks that I spoke to would not work with a club with so much hidden debt and they advised me not to proceed. I needed to be able to raise 8m and could not make the share option figures work. The banks felt that there would not be enough support in Hull to pay for the shares at a realistic level.
As it stands now, the KC could hold the key. I have the basic idea of how it would work, but nothing more, like my novel it's on the back burner, I dont have the time to take it forward and until I have something worth putting forward there's no point in speaking to Assam Allam.
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Earlier today on another thread, it was felt that I was siding with the Allams. This thread was restarted and my reply was no longer needed. I have not changed my profile since joining the forum. I trust what has been said to me and I believe the account of the situation given by the Allams in the HDM.

Look at my profile, I am not some fool blinded by the wealth of anyone. My work involves contact with businessmen throughout the country and at all levels. I get lied to on an almost daily basis. I will support the current owners of the club, until I find a genuine reason not to. I have not found one yet. I would never slate OLM (and he knows it) or anyone else who has insider information. But the way some posters talk, anyone would think that we have owners like Ken Bates. Show me proof of wrong doing and I will consider changing my views.

I still look forward to the day when the Hull City supporters own a majority shareholding or at least have an elected rep on the board.
 
Its a bigger shame that so many so called fans doubted their intent or their gift.
 
DaveBambersPostman said:
We should make this thread a sticky (after all the movie quotes have been deleted!) to remind all the brain dead idiots who come on here and knock the Allams, just how important and significant their investment into Hull City has been.

I am sick to the stomach of people moaning because we 'haven't seen the colour of their money yet - we need a £10M kitty to spend in January' etc etc.

Okay, so I made the quote up, but it is typical of the sort of attitude a small NOISY % of our fans have.

They need to wake up and not only smell the coffee, but shove the tin of coffee beans up their backsides.

As others have said...... where are all the Allam knockers? This thread is surprisingly missing their informed input for some reason.
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Sadly the people who have that power, were also among the knockers, so that won't happen. Some people really should be ashamed of themselves, and apologise, but of course they won't be. They remind me of the chavs on the Jeremy Kyle show, the ones you look at and think *you really don't get it do you....*
 
I thought the Allams were wonderful when they first took over the club and I recognise that stepping in when they did saved us from disaster BUT that doesn't mean that I have to agree with or like everything they do. I could not reasonably explain why this season I have felt uneasy about things, I just have. I suppose in this world we live in there are not many people who make big gestures like making a "gift" to the City so that when you do come across this it just makes it hard to believe.
 
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