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| Quote ="TrevLovesJanice"He is not a "Dr" anyway. he has an honorary degree , and custom and practice is NOT to use the title bestowed in that way.'"
Indeed. It is a pishtake.
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| It so makes you appreciate what you have got in Mr Pearson and even Mr Hugnell owners that put their clubs first before personal ego.
I think dropping the word City is just another dig at Hull CC for not giving him the ground and land, thing is now I am beginning to feel he is having a pop at me for being born in the City of Hull.
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| Quote ="Punos"I think dropping the word City is just another dig at Hull CC for not giving him the ground and land, thing is now I am beginning to feel he is having a pop at me for being born in the City of Hull.'"
Sort of, he basically said because he couldn't get the ground (and build his sports village) he had to find other sources of revenue such as changing the name. He thought this would get the City fans behind him and they would lobby the council on his behalf.
Instead its just backfired and people have realised what a idiot he really is!
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| Good article tbh
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| Allam and Hull City have made the pages of the latest edition of Private Eye. The article is in the back of the magazine in the section devoted to dodgy financial dealings. There's nothing too startling there that hasn't been revealed before but Allam does use City's losses to avoid his other companies to pay their full tax dues. What is does mean is the great philanthropist has put in even less money than was thought so his attempted land grab has not cost him as much as was previously thought. From a purely business point of view that makes it a more worthwhile gamble. If you were a City fan the article doesn't make comfortable reading though as the spectre of outstanding tax payments is brought up.
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| Quote ="Erik the not red"Allam and Hull City have made the pages of the latest edition of Private Eye. The article is in the back of the magazine in the section devoted to dodgy financial dealings. There's nothing too startling there that hasn't been revealed before but Allam does use City's losses to avoid his other companies to pay their full tax dues. What is does mean is the great philanthropist has put in even less money than was thought so his attempted land grab has not cost him as much as was previously thought. From a purely business point of view that makes it a more worthwhile gamble. If you were a City fan the article doesn't make comfortable reading though as the spectre of outstanding tax payments is brought up.'"
I suspect the majority of sporting club owners use losses to offset tax liabilities incurred elsewhere
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| Jake wrote:
I suspect the majority of sporting club owners use losses to offset tax liabilities incurred elsewhere
Probably true but not asking fascetiously, does Allam have any other usiness interests apart from North Ferriby and Rovers? He seems to have shut everything else down????????
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Good article but I don't feel the Wimbledon & Coventry examples give an indication of what the FA will do here.
while Wimbledon was a very controversial move, it was a club deep in debt, with no ground of their own limping along on the field, there was the unique chance to move to a large City that had no major football club, and the prospect of a new ground. While it of course was an insult to Wimbledon's loyal fans, 10 years on the FA have got 1 League1 club in MKDons playing in a superb stadium to growing crowds, and AFC Wimbledon have risen from the ashes to get to League2 and have plans to build their own ground. Instead of a club going bust they've ended up with two successful clubs.
in the Coventry example, I believe the Coventry board explained why it wouldn't be economically viable to stay at the Ricoh Arena under their present deal, and I believe the FA laid conditions that they have to return to Coventry within 2-3 years. Rotherham had a similar condition attached when they temporarily moved to Sheffield a few years back.
Hull City are different in that they are an economically viable, Premier League club, and even if the fans and/or Allam leave the club they would have no issue finding a buyer IMO.
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Good article but I don't feel the Wimbledon & Coventry examples give an indication of what the FA will do here.
while Wimbledon was a very controversial move, it was a club deep in debt, with no ground of their own limping along on the field, there was the unique chance to move to a large City that had no major football club, and the prospect of a new ground. While it of course was an insult to Wimbledon's loyal fans, 10 years on the FA have got 1 League1 club in MKDons playing in a superb stadium to growing crowds, and AFC Wimbledon have risen from the ashes to get to League2 and have plans to build their own ground. Instead of a club going bust they've ended up with two successful clubs.
in the Coventry example, I believe the Coventry board explained why it wouldn't be economically viable to stay at the Ricoh Arena under their present deal, and I believe the FA laid conditions that they have to return to Coventry within 2-3 years. Rotherham had a similar condition attached when they temporarily moved to Sheffield a few years back.
Hull City are different in that they are an economically viable, Premier League club, and even if the fans and/or Allam leave the club they would have no issue finding a buyer IMO.
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| Quote ="Armavinit"Jake wrote:
I suspect the majority of sporting club owners use losses to offset tax liabilities incurred elsewhere
Probably true but not asking fascetiously, does Allam have any other usiness interests apart from North Ferriby and Rovers? He seems to have shut everything else down????????'"
HTH
In the year to 31 December Allam Marine reported pre-tax profit of £11.2m, down from £22.6m in 2011, on sales which fell from £185m to £100.3m.
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| Quote ="DuaneDibbley"HTH
In the year to 31 December Allam Marine reported pre-tax profit of £11.2m, down from £22.6m in 2011, on sales which fell from £185m to £100.3m.'"
he was talking about Hull City losing money.
You should try engaging your brain, rather than frothing bile
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| Quote ="Erik the not red"Allam and Hull City have made the pages of the latest edition of Private Eye. The article is in the back of the magazine in the section devoted to dodgy financial dealings. There's nothing too startling there that hasn't been revealed before but Allam does use City's losses to avoid his other companies to pay their full tax dues. What is does mean is the great philanthropist has put in even less money than was thought so his attempted land grab has not cost him as much as was previously thought. From a purely business point of view that makes it a more worthwhile gamble. If you were a City fan the article doesn't make comfortable reading though as the spectre of outstanding tax payments is brought up.'"
The outlay for Hull City far outweighs any potential tax savings he makes on his other companies. If he wanted to dodge tax there a far easier, cheaper and ultimately more successful ways to do so without spending £70 million on a debt ridden football club.
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| Quote ="Airlie Street"The outlay for Hull City far outweighs any potential tax savings he makes on his other companies. If he wanted to dodge tax there a far easier, cheaper and ultimately more successful ways to do so without spending £70 million on a debt ridden football club.'"
He is loaning the money to City, certainly not spending £70 million in the sense that it has been irrevocably committed to them never to return. His actual committed amount is a fraction of that and he probably saw it as a gamble worth spending on because the benefits if his land grab had succeeded would have been very rewarding indeed. As it is he took a chance but (fortunately) it didn't come off. In fact of this mythical £70 million most of that would be someone else's loan and not out of Allam's piggy bank so to say.
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| [url=http://www.bbc.co.uk/sport/0/football/22171365Parachute payments of £60m+[/url will come in handy as well.
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| Quote ="hull smallears"he was talking about Hull City losing money.
You should try engaging your brain, rather than frothing bile'"
Maybe you should engage your brain.
What part of does Allam have any other business interests apart from North Ferriby and Rovers did you not get?
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| Quote ="DuaneDibbley"Maybe you should engage your brain.
What part of does Allam have any other business interests apart from North Ferriby and Rovers did you not get?
'" .
I actually assumed everyone knew about Allam Marine, so fair do's. Sorry
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| Quote ="hull smallears".
I actually assumed everyone knew about Allam Marine, so fair do's. Sorry'"
My old teacher used to say. Never assume anything.
No worries
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| Quote ="Erik the not red"He is loaning the money to City, certainly not spending £70 million in the sense that it has been irrevocably committed to them never to return. His actual committed amount is a fraction of that and he probably saw it as a gamble worth spending on because the benefits if his land grab had succeeded would have been very rewarding indeed. As it is he took a chance but (fortunately) it didn't come off. In fact of this mythical £70 million most of that would be someone else's loan and not out of Allam's piggy bank so to say.'"
That's not entirely true, a large portion of the £70 million is in the form of loans your right, that mainly goes back to the initial take over, however he has also invested cash, mainly in the 2012/2013 season which was essentially his last chance to bankroll promotion due to FFP rulings.
Given the current debts if he wanted to sell the club right now he would have to write off a significant portion of the loans to attract a buyer, so in that sense a portion of that money is irrevocable.
Your right it was entirely a gamble to get the land and create another business venture, the gamble failed and ultimately he will loose money on this, unless he can keep the team in the Premier League for the next 5-10 years, pay off the debts and make the club self-sustainable.
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| Quote ="Airlie Street"That's not entirely true, a large portion of the £70 million is in the form of loans your right, that mainly goes back to the initial take over, however he has also invested cash, mainly in the 2012/2013 season which was essentially his last chance to bankroll promotion due to FFP rulings.
Given the current debts if he wanted to sell the club right now he would have to write off a significant portion of the loans to attract a buyer, so in that sense a portion of that money is irrevocable.
Your right it was entirely a gamble to get the land and create another business venture, the gamble failed and ultimately he will loose money on this, unless he can keep the team in the Premier League for the next 5-10 years, pay off the debts and make the club self-sustainable.'"
is the KC capacity big enough to support a self sustainable premier league club?
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| Quote ="bishops finger"is the KC capacity big enough to support a self sustainable premier league club?'"
Gate receipts are a small part of a premiership club's income
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| Quote hull smallears wrote:
"I actually assumed everyone knew about Allam Marine"
Genuinely thought that was the failed Ruscador. I really do not have any interest in Allam apart from the ridiculous use of the honorific title "Doctor" and that he is a genuine threat to my club. After Duane was informative I have since Googled "Allam Marine" and now recall his Marine Generator business. Memory is a cruel thing at my age DOOOOHHHHH
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| Quote ="Armavinit"
I was not having a dig chief
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| No offence taken, we're all a bit jumpy around "Duane"
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| Quote ="bishops finger"is the KC capacity big enough to support a self sustainable premier league club?'"
Fulham seem to do ok. West Broms capacity is only slightly higher.
I don't think the demand is there for an increased capacity with the exception of games against the glamour clubs or those with exceptional followings (Manchester clubs, Liverpool, nal, Newcastle).
The only way to increase crowds significantly is to be successful. Even that doesn't guarantee more bums on seats, Swansea win in the league cup is evidence of that.
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