Debt-free Tigers are confident of keeping key men despite loss ADAM PEARSON insists none of Hull City’s key players are for sale in January despite the club losing £20.4m in the last financial year. (excerpt) Hull’s figures also reveal that bank loans, which at the end of the 2009-10 financial year had stood at £17m, had been wiped out thanks to the Allams. Pearson said: “The club is in a great position. What has happened at Hull has to be unique, certainly for a Championship club. For the owners to pump in so much money is just unbelievable. http://www.yorkshirepost.co.uk/spor...ent_of_keeping_key_men_despite_loss_1_4131692
How much of that £20.4M was lost asset value attributed to players that were here on stupid transfer fees that we cut losses on/amortised accordingly? For the benefit of those who don't know, when we signed for example Bullard for £5M that cost wasn't accounted for immediately. For accounting purposes regardless of when cash changes hands the fee gets split evenly over the length of his contract. As he was on a 4 1/2 year contract I'm going to say £1M a year over 5 years accounts. When we free transferred him earlier this year he still had 2 seasons on his contract, so he'll have been a £2M asset on the books that will be written off in the next set of accounts. Last year we had Zayatte go with 2 years on, other players who left, and a year's worth of written down value on all the players who stayed here, and about 1/3 of the value of transfer fees agreed out last January and probably early in the summer.
