The excellent Kevin Maguire from the Price of Football podcast and website has been looking at the Allamhouse accounts. He states that Allamhouse has £20m in capital reserves in the bank.
He could of told us what the debt amount still is.. A business having £20m working capital in the bank surely must be a good thing? ( If I'm wrong then fair does, accounts I have no idea about )
I'd gladly be a complete idiot, clueless and don't know what I'm doing if it meant £20m sat in my account
I'm no accounting expert either, but did we need to take the grant from the EFL that led to the embargo if we've got £20m stashed in the bank?
Why wouldn't you? It's a grant that you only have to pay back if you do xyz... Take it, bank the money and just pay it back if and when you need to, if you don't then it's free money.... Smart move
Fair enough, as long as it doesn't get in the way in the future. Which, you're right, I suspect it might not.
He doesn’t know what the club debt is, these are Allamhouse accounts, rather than City’s (so are based on last year’s City figures). Though it’s interesting to see that the massive drop in overall income came from Allam Marine, rather than City.
Could that mean ( crossing fingers ) that chucks of the debt where paid back? Would that all fall under income from city or would it be separate?