The Man In Black Posted October 28, 2009 Report Share Posted October 28, 2009 Hull's auditors have issued a stark warning about Hull's finances if they go down http://www.guardian.co.uk/football/2009/oc...king-phil-brown They'd need to find a scary amount (I presume that they've taken into account parachute payments). A rhetorical question, but does anyone think that we would have found ourselves in the same financial situation if we had gone up instead of them? I'm not entirely sure where Hull have spent all the money. It's easy to say "SL would have never allowed it", but how can we be sure? Link to comment Share on other sites More sharing options...
Will Rollason Posted October 28, 2009 Report Share Posted October 28, 2009 Read this earlier on line and was going to post it. Worrying . They've hardly " lived the dream " have they? Once you get to the promised land the figures get scary Link to comment Share on other sites More sharing options...
EmersonsKev Posted October 28, 2009 Report Share Posted October 28, 2009 Another club that are in the poo and no longer own there stadium. Surely they can save a few million by stopping Phil Brown's visits to the tanning salon. Link to comment Share on other sites More sharing options...
cider11 Posted October 28, 2009 Report Share Posted October 28, 2009 Do they suffer from not owning the ground? I think that the ground is owned by the local council as they put the money up to build the ground. If they dont they will be missing out on a lot of revenue which we would be in a different situation in owning our ground. Any rent the rugby league team pay will go to the council and not the football team. Any non footballing activites we have go straight to us, i know they are currently limited until we get the new ground, but still better than effectively nothing. I think any teams who are moving to new grounds, and even selling there own and not owning the ground are really going to struggle. Look at the decline of Coventry bottom half championship club since leaving Highfield Road surviving on the gate reciepts. Link to comment Share on other sites More sharing options...
SuperDziek Posted October 28, 2009 Report Share Posted October 28, 2009 Read this earlier on line and was going to post it. Worrying . They've hardly " lived the dream " have they? Once you get to the promised land the figures get scary On the basis of them giving Jimmy Bullard a £40k a week contract, its hardly surprising they're in financial trouble. let alone anything else. I presume other ridiculous contracts were sanctioned by their board as well. No doubt the truth will come out in due course and they will be made to look very silly. I'd hope that, if (sorry, when) we make it to the promised land, our board are financially prudent. SL didnt get into the position of wealth he occupies by throwing cash around. Link to comment Share on other sites More sharing options...
Barrs Court Red Posted October 28, 2009 Report Share Posted October 28, 2009 Another example of why it's madness not to actually own your own ground. There's been rumours of Hull struggling off the pitch for a few months now. Link to comment Share on other sites More sharing options...
Economou Posted October 28, 2009 Report Share Posted October 28, 2009 On the basis of them giving Jimmy Bullard a £40k a week contract, its hardly surprising they're in financial trouble. let alone anything else. I presume other ridiculous contracts were sanctioned by their board as well. No doubt the truth will come out in due course and they will be made to look very silly. I'd hope that, if (sorry, when) we make it to the promised land, our board are financially prudent. SL didnt get into the position of wealth he occupies by throwing cash around. Ddin't they blow 6 million on Stephen Hunt ? More than Wolves spent on Doyle I think. Madness. Link to comment Share on other sites More sharing options...
citynut54 Posted October 28, 2009 Report Share Posted October 28, 2009 On the basis of them giving Jimmy Bullard a £40k a week contract, its hardly surprising they're in financial trouble. let alone anything else. I presume other ridiculous contracts were sanctioned by their board as well. No doubt the truth will come out in due course and they will be made to look very silly. I'd hope that, if (sorry, when) we make it to the promised land, our board are financially prudent. SL didnt get into the position of wealth he occupies by throwing cash around. Contracts like that are exactly what got us in trouble in the Seventies. I'd like to think that SL would be a bit more prudent than that, when we get there!! Link to comment Share on other sites More sharing options...
NATCHER Posted October 28, 2009 Report Share Posted October 28, 2009 I'd like to think that SL would be a bit more prudent than that, when we get there!! I'll remind you of this post when Messi and Kaka leave us on a Bosman 'cos we never tied them down on longer deals. Link to comment Share on other sites More sharing options...
Will Rollason Posted October 28, 2009 Report Share Posted October 28, 2009 On the basis of them giving Jimmy Bullard a £40k a week contract, :noexpression: :noexpression: i take it back about the dream bit Ddin't they blow 6 million on Stephen Hunt ? More than Wolves spent on Doyle I think. Madness. Kevin Kilbane Wigan Athletic Undisclosed Manucho Manchester United Season-long Loan Kamil Zayatte Young Boys £2,500,000 Jimmy Bullard Fulham £5,000,000 Steven Mouyokolo Boulogne Undisclosed Seyi Olofinjana Stoke City £3,000,000 Jozy Altidore Villareal Season-long Loan Stephen Hunt Reading £3,500,000 Kamel GhilasCelta Vigo Undisclosed Paul McShane Sunderland Undisclosed Ibrahima Sonko Stoke City Season-long Loan Jan Vennegoor of Hesselink Celtic Free transfer Is it that bad? I mean you gotta spend havent you and ok Bullard and Hunt aint exactly set the world on fire but..... Link to comment Share on other sites More sharing options...
Barrs Court Red Posted October 28, 2009 Report Share Posted October 28, 2009 Thats not a bad list of signings, but losing Turner was probably a massive blow. Still I can't understand why they would be in the crap at the bank, but the likes of Bolton aren't? Link to comment Share on other sites More sharing options...
City_pete1 Posted October 28, 2009 Report Share Posted October 28, 2009 Thats not a bad list of signings, but losing Turner was probably a massive blow. Still I can't understand why they would be in the crap at the bank, but the likes of Bolton aren't? Have you been to the rebok stadium? They must make so much money from that on matchdays, the corporate facilities and hotel etc etc... They own the majority of space for parking that they make money on during match days. i know a few companies that have boxes and sponsorship up there. I think Bolton are very commercially astute, and a different league to Hull (off the pitch). Link to comment Share on other sites More sharing options...
Economou Posted October 28, 2009 Report Share Posted October 28, 2009 :noexpression: :noexpression: i take it back about the dream bit Kevin Kilbane Wigan Athletic Undisclosed Manucho Manchester United Season-long Loan Kamil Zayatte Young Boys £2,500,000 Jimmy Bullard Fulham £5,000,000 Steven Mouyokolo Boulogne Undisclosed Seyi Olofinjana Stoke City £3,000,000 Jozy Altidore Villareal Season-long Loan Stephen Hunt Reading £3,500,000 Kamel GhilasCelta Vigo Undisclosed Paul McShane Sunderland Undisclosed Ibrahima Sonko Stoke City Season-long Loan Jan Vennegoor of Hesselink Celtic Free transfer Is it that bad? I mean you gotta spend havent you and ok Bullard and Hunt aint exactly set the world on fire but..... 6 mill was in my mind for some reason. Ah well. Looking closer even the Hunt fee is undisclosed but believed to be £3-£3.5 million. Link to comment Share on other sites More sharing options...
Red_Monster Posted October 28, 2009 Report Share Posted October 28, 2009 It does look worrying though doesn't it? I mean, i'm sure all involved in the club wants to see our lads run out in the Prem - but when you look at what it takes financially to stay there in todays game - and considering the likes of Hull who have only been in the prem for 1 and a half seasons and haven't spent a lot compared to other teams, yet look at their financial situation - it does make you wonder, whether or not its worth jeopardizing the long term future of our club just to play there. It's a fair response to suggest that we have an astute chairman who would spend wisely, however in reality it is obviously very different and it seems to me that often greedy players dictate just how much a club is willing to spend. Personally, when you look at Hulls situation (if accurate) it raises the familiar question of whether or not its worth getting there just to put the future of the club on the line? I'm sure that if you took any of the Premier League clubs out of the prem and in to the Championship, they'd be looking at going under as a result of loss in earnings and high wage bills. Link to comment Share on other sites More sharing options...
Admin Ian M Posted October 28, 2009 Admin Report Share Posted October 28, 2009 Thats not a bad list of signings, but losing Turner was probably a massive blow. Still I can't understand why they would be in the crap at the bank, but the likes of Bolton aren't? Worth considering that the accounts being analysed were for the season they got promoted when it was common knowledge that this was the last season of a real gamble budget-wise at making the Premier League. The following year's accounts should include all the bells and whistles that come with being a Premier League team. Link to comment Share on other sites More sharing options...
Rudolf Hucker Posted October 28, 2009 Report Share Posted October 28, 2009 I remember in 1982 when we were going through our own financial difficulties, Hull were placed into receivership but managed to get out of trouble. In 1995 they faced winding up orders in the high Court and had to sell Windass to Aberdeen to survive. In 2001, the gates of Boothferry Park were locked by the then landlord David Lloyd (the Davis Cup tennis player - not Bumble!) due to unpaid debts and again faced winding up orders. The truth is that they have faced financial crisis many times throughout their history and this is just one more - albeit undoubtedly, the biggest. Link to comment Share on other sites More sharing options...
Red Ferret Posted October 28, 2009 Report Share Posted October 28, 2009 Worth considering that the accounts being analysed were for the season they got promoted when it was common knowledge that this was the last season of a real gamble budget-wise at making the Premier League. The following year's accounts should include all the bells and whistles that come with being a Premier League team. The report I read on the Guardian this morning reckons that the following years accounts still won't be enough to get them out of the red Sign Jimmy Bullard and live the dream! Link to comment Share on other sites More sharing options...
Mrdc Posted October 29, 2009 Report Share Posted October 29, 2009 :noexpression: :noexpression: i take it back about the dream bit Kevin Kilbane Wigan Athletic Undisclosed Manucho Manchester United Season-long Loan Kamil Zayatte Young Boys £2,500,000 Jimmy Bullard Fulham £5,000,000 Steven Mouyokolo Boulogne Undisclosed Seyi Olofinjana Stoke City £3,000,000 Jozy Altidore Villareal Season-long Loan Stephen Hunt Reading £3,500,000 Kamel GhilasCelta Vigo Undisclosed Paul McShane Sunderland Undisclosed Ibrahima Sonko Stoke City Season-long Loan Jan Vennegoor of Hesselink Celtic Free transfer Is it that bad? I mean you gotta spend havent you and ok Bullard and Hunt aint exactly set the world on fire but..... Maybe not on the transfer fees, but the wages and bonuses is the killer. Link to comment Share on other sites More sharing options...
GrahamC Posted October 29, 2009 Report Share Posted October 29, 2009 I'm sure GJ made a comment at the AGM about Giovanni being on around £40k a week too, this is only sustainable if you stay there, relegation will never cover £2m a year salaries (!) even with parachute payments. Link to comment Share on other sites More sharing options...
havanatopia Posted October 29, 2009 Report Share Posted October 29, 2009 Hull's auditors have issued a stark warning about Hull's finances if they go down http://www.guardian.co.uk/football/2009/oc...king-phil-brown They'd need to find a scary amount (I presume that they've taken into account parachute payments). A rhetorical question, but does anyone think that we would have found ourselves in the same financial situation if we had gone up instead of them? I'm not entirely sure where Hull have spent all the money. It's easy to say "SL would have never allowed it", but how can we be sure? We can't but SL has all of those clubs as a reminder. He also did not build a successful financial services company on pure luck. The word 'financial' being the operative word. I think we are extremely lucky to have a chairman with that kind of pedigree. Link to comment Share on other sites More sharing options...
CiderHider Posted October 29, 2009 Report Share Posted October 29, 2009 Whenever i hear the word 'Hull' i think of that fat meat head who fluked that goal that denied us our rightful destiny. So forgive me if I don't shed a tear for them, I hate them and that cocky **** Phil Brown, I hope they suffer like leapers for eternity. I pray I see them go down and we go up, I want them to sink down the leagues till they find they're level playing Grimsby and Kings lynn. Link to comment Share on other sites More sharing options...
cinker Posted October 29, 2009 Report Share Posted October 29, 2009 Whenever i hear the word 'Hull' i think of that fat meat head who fluked that goal that denied us our rightful destiny. So forgive me if I don't shed a tear for them, I hate them and that cocky **** Phil Brown, I hope they suffer like leapers for eternity. I pray I see them go down and we go up, I want them to sink down the leagues till they find they're level playing Grimsby and Kings lynn. Not holding a grudge then...... Link to comment Share on other sites More sharing options...
garlicbread Posted October 29, 2009 Report Share Posted October 29, 2009 :noexpression: :noexpression: i take it back about the dream bit Kevin Kilbane Wigan Athletic Undisclosed Manucho Manchester United Season-long Loan Kamil Zayatte Young Boys £2,500,000 Jimmy Bullard Fulham £5,000,000 Steven Mouyokolo Boulogne Undisclosed Seyi Olofinjana Stoke City £3,000,000 Jozy Altidore Villareal Season-long Loan Stephen Hunt Reading £3,500,000 Kamel GhilasCelta Vigo Undisclosed Paul McShane Sunderland Undisclosed Ibrahima Sonko Stoke City Season-long Loan Jan Vennegoor of Hesselink Celtic Free transfer Is it that bad? I mean you gotta spend havent you and ok Bullard and Hunt aint exactly set the world on fire but..... Did they not buy Jimmy Bullard even when his medical showed a knee problem...and bosh...he goes down on is debut? Suicide, and theyonly have themselves to blame. Much as it pains me, Sjoke have shown how it should be done...dont overspend beyond your means, make your home patch a fortress..and i you stay up then it's a bonus. Link to comment Share on other sites More sharing options...
EssexRobin Posted October 29, 2009 Report Share Posted October 29, 2009 Whenever i hear the word 'Hull' i think of that fat meat head who fluked that goal that denied us our rightful destiny. And now, we get to see his annoyingly smug face on Sky Sports News as he's been appointed reporter! Can't wait for that club's luck to end. (No, I'm not a bigger person.) Link to comment Share on other sites More sharing options...
CiderHider Posted October 29, 2009 Report Share Posted October 29, 2009 Not holding a grudge then...... Can't help it I'm afraid, but the bitterness keeps me sharp. Link to comment Share on other sites More sharing options...
Guest Posted October 29, 2009 Report Share Posted October 29, 2009 I`m sure I read last week somewhere that even Manure and the Pool are 100`s of mill in debt even with there enormous grounds worldwide followers, and really big money boys backing them; so what the eck is going on? Please that we keep a steady ship when/if we get up there with the big stuff SL is very astute but so presummably are all these big foriegn boys; avantage SL has is hes knows the club and loves it unlike the imports. Seems like Hulls chairman has walked and it seems set for the Derby guy to step back in. Link to comment Share on other sites More sharing options...
Will Rollason Posted October 29, 2009 Report Share Posted October 29, 2009 I hope they suffer like leapers for eternity. Wot, like doing the triple jump. Forever... Link to comment Share on other sites More sharing options...
BCFC_Dan Posted October 29, 2009 Report Share Posted October 29, 2009 I believe Man U are in debt due to some odd rule that allowed the Glazers to borrow money in order to buy the club and then transfer that debt to the club (so effectively it owes the money used to buy itself). They make enough money annually to cover their repayments and still make a profit, so for the moment they're OK. Liverpool seem to be much less secure. They were forced to restructure their debts over the Summer and there still seems to be doubt about their financial situation. They could be in real trouble if they fail to qualify for the Champions League next season. Arsenal are the only one of the big four clubs that is financially stable (whilst they were hit heavily by the cost of building the Emirates, it now brings in £3m every game), and a lot of that is down to Wenger's canny transfer dealings. Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted October 29, 2009 Report Share Posted October 29, 2009 Contracts like that are exactly what got us in trouble in the Seventies. I'd like to think that SL would be a bit more prudent than that, when we get there!! I wasn't around in the 70s but I read in a programme today that we had the third highest wage bill in the top division in that era! Third highest!!! No wonder it all collapsed post relegation. As you say, hopefully Lansdown would not make such mistakes. Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted October 29, 2009 Report Share Posted October 29, 2009 Have you been to the rebok stadium? They must make so much money from that on matchdays, the corporate facilities and hotel etc etc... They own the majority of space for parking that they make money on during match days. i know a few companies that have boxes and sponsorship up there. I think Bolton are very commercially astute, and a different league to Hull (off the pitch). I always assumed that Hull were one of the better run sides, at least when they went up. As for Bolton, they are not exactly swimming in money- their debt is around £53m. Hull's is (according to NOTW from earlier this month) approximately £17m. Hull's wage bill is £13.96m. Bolton's is £39m. Yet it is Hull who are in the red financially. Link to comment Share on other sites More sharing options...
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