Well that's not right is it! If the deal is structured £5m now, £5m in a year and £5m in two years, and the club is sold in six months' time, a new owner is going to get the later payments not the Allams. So the £50m price would reduce to only £45m, not £35m.
But let's be realistic. The £50m is a made up number that Allams have created by redistributing monies between their Allamhouse businesses and their own personal coffers. The club is worth whatever someone will pay for it, based on the assets it owns, not on a number that Assem plucks out of his arse.
To a potential buyer, a club priced at £50m that owns Jarrod Bowen, and a club priced at £35m that no longer owns Jarrod Bowen, is worth about the same. Though the latter is clearly a smaller punt, so might be more attractive to someone wanting to take a risk.
And trying to do a deal with the Allams must be the mother of all financial risks to take. They have shown they are nightmare to deal with over many years.
Agree 100% with nearly all of that.
Re. the 1st paragraph, I think we are saying the same thing, just coming at it from different angles!
In your scenario, assuming the Allams are asking for £50 million (supposedly owed to them, not the value of the club), and receive £5 million straight away, then the debt and asking price becomes £45 mill ...... but the buyers know they have £10 million coming in over time so the net cost to them of the purchase becomes £35 mill.
Likewise with the Harry sell on of £9 million IF that deal gets done and the money comes in post-purchase. The net cost of £35 mill reduces to £26 mill.
£26 mill becomes much more realistic (but still probably too much). And all the above is still based on massive assumptions including the Allams actually wanting to sell and proving themselves capable of finally getting a sale over the line.