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  #1  
Old 13-08-2010, 12:49 PM
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koren to hull
good signing must be on big wages , were are they getting it from ? surely they cant afford simpson aswell
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  #2  
Old 13-08-2010, 12:56 PM
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Parachute payments. They appear to be gambling all on a quick return to the Premiership: if they don't get it, they will be in a right mess.
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  #3  
Old 13-08-2010, 01:19 PM
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I doubt after this that Hull are still in for Simpson seeing as the Chief Exec said that if Simpson was to come in they would have to offload someone, but they just seem to keep on signing...

I hope for the sake of the supporters their gamble pays off..
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  #4  
Old 13-08-2010, 01:20 PM
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I hope it doesn't and that they drop like a stone.
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Old 13-08-2010, 01:28 PM
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Originally Posted by kolinkins
I hope it doesn't and that they drop like a stone.

Me too!! Never liked em.
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  #6  
Old 13-08-2010, 01:36 PM
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If they don't go up this season, next year will be the biggest firesale in Championship history
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Old 13-08-2010, 01:47 PM
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I thought that Hull had already gambled away thier parachute payment money in January by spending against known future earnings?

If they aren't successful then the next thing they will be doing is buying a one way ticket to administration.
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Old 13-08-2010, 01:49 PM
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Quote:
Originally Posted by brooklynlou
If they don't go up this season, next year will be the biggest firesale in Championship history

Aren't parachute payments now 4 years in length?
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  #9  
Old 13-08-2010, 01:52 PM
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Quote:
Originally Posted by Neckinger Eagle
I thought that Hull had already gambled away thier parachute payment money in January by spending against known future earnings?

If they aren't successful then the next thing they will be doing is buying a one way ticket to administration.

If thats the case, then it begs the question; are they knowingly and purposefully pushing their team towards bankruptcy knowing full well that since they own no assets outside the players, and the way the rules are written, that once the go into administration, they will start with a clean balance sheet while the tax man and small creditors get screwed.

Here's hoping that they get the tax laws fixed before this happens.
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  #10  
Old 13-08-2010, 01:54 PM
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Quote:
Originally Posted by brooklynlou
If thats the case, then it begs the question; are they knowingly and purposefully pushing their team towards bankruptcy knowing full well that since they own no assets outside the players, and the way the rules are written, that once the go into administration, they will start with a clean balance sheet while the tax man and small creditors get screwed.

Here's hoping that they get the tax laws fixed before this happens.
1. It is not a tax law, it is a legal law.
2. If a company continues trading when it is insolvent, then that's illegal and the directors can become personally liable.
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Old 13-08-2010, 01:55 PM
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I think that's a valid point Lou. Do the council own Hull's ground?
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Old 13-08-2010, 02:00 PM
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Quote:
Originally Posted by AJ
Aren't parachute payments now 4 years in length?

12 M per year for 4 years for a total of 48 M

Problem is that practically all of this years payment is owed to other clubs (preferred creditors) for past transfers. So this years parachute payment is gone without taking into account the huge salaries they are paying out.

The other problem is no one knows knows what else they owe.
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Old 13-08-2010, 02:06 PM
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Old 13-08-2010, 02:07 PM
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Quote:
Originally Posted by Adlerhorst
1. It is not a tax law, it is a legal law.
2. If a company continues trading when it is insolvent, then that's illegal and the directors can become personally liable.

Sorry, here in the US, tax law=legal law, ie it gets voted on. Assume that it will require a vote for the UK as well.

There's a difference between trading while insolvent and trading based on extremely optimistic future projections. One is criminal, the other is called Bear Stearns.

If you create EXTREMELY rosy projections that have some small connection to reality and trade to those projections and things go belly up ... well ... ain't that too bad. "We're not criminals, we're just really incompetent ..."
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Old 13-08-2010, 02:08 PM
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Quote:
Originally Posted by brooklynlou
12 M per year for 4 years for a total of 48 M

Problem is that practically all of this years payment is owed to other clubs (preferred creditors) for past transfers. So this years parachute payment is gone without taking into account the huge salaries they are paying out.

The other problem is no one knows knows what else they owe.

Bullard aside, they are shifting most of their top-earners away, freeing up cash to pay the odd free signing.

with this signing, i think they'll do well. they have plenty of decent championship (but crap Premiership) defenders, and by all accounts looked very solid v Swansea last week.
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Old 13-08-2010, 02:21 PM
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Against the mighty Kuqi you mean?

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Old 13-08-2010, 03:39 PM
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Let' see how Koren does without Dorrans to do all the hard work.
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