Allam investment reaches £72m

Hull City owner Assem Allam invested a further £24million of his personal fortune into the club on their way to promotion to the Premier League last season, latest accounting figures show.

Last Updated: 05/12/13 at 16:32 Post Comment    Bet with SkyBet  Premier League To Stay Up 13/14. Click here to bet.

Assem Allam: Hull City owner has now invested £72million in the club

Assem Allam: Hull City owner has now invested £72million in the club

Allam, who has come under fire from sections of fans in recent months over his controversial plans to change the name of the club from Hull City AFC to Hull Tigers, has now pumped £72m into the club since taking charge in 2010 following their relegation to the Championship.

Despite earning promotion back to the top flight, Hull's accounts for the year ending July 31 2013, which were made available by Companies House this week, also show pre-tax losses of £25,628,171.

That figure is nearly £17m up on the £8,771,007 loss recorded 12 months earlier.

The club's turnover last season was £11,075,152 - only a slight change from £11,042,457 - while the value of City's playing squad as at July 31 was put at just over £14m - up from around £3m in 2012.

The directors of Hull City Tigers Limited - which has been the business name of the club since the spring - consider their future prospects to be "satisfactory".

The directors added in the account summary: "The directors made the ambitious decision to go for promotion and to this end invested heavily in the club.

"Steve Bruce, a leading manager, was appointed and he was provided with sufficient funds to augment and improve the squad.

"An amount of £24million was advanced by the parent company [Allamhouse Limited] earlier in the year, which brings the total amounts so provided to £72million at the year end."

Bet with SkyBet  Premier League To Stay Up 13/14. Click here to bet.

Football365 Facebook Fan Page

The Football365 fan page is a great place to meet like minded people, have football related discussions and make new friends.

Related News

Sky Bet

    • Retrieving latest Sky Bet odds

Most Commented

Readers' Comments

I

may well get slated by other United fans for this, but out of the three contenders, I'd far prefer Liverpool to win the title. Yes some elements of their fanbase can be a bit OTT, yes they're our biggest rivals and yes it will make our poor season feel even more like the end of an era (Fergie's gone, Liverpool are back on top). However I just have to applaud Brendan Rodgers and the way he's turned Liverpool around in just a couple of seasons. It...

Mike_Christie
Please Stop Telling Us What To Think

H

ooray! We are all excited now, we beat a very mediocre team! With all due respect to WHU supporters, not winning that game shouldn't even be a consideration. This is the problem, there is no winning mentality at the Emirates - we're all congratulating ourselves beating a team that we have a winning record against.

TheWhiz
Wenger hails important win

I

s this meant to be an aspiration for United supporters? Moyes mediocrity strikes again. I see the Bayern boys don't want to sign for him, and his reputation amongst the senior European coaches make other key signings unlikely.

redbornandbred
De Gea's Europa League target

Footer 365

Champions League: Eden Hazard is in a race against time to be fit to face Atletico Madrid

Eden Hazard will need to return to full training quickly if he is to be considered for Tuesday's Champions League match.

Primera Liga: Leaders Atletico Madrid pull six points clear after 2-0 win over Elche

Joao Miranda and Diego Costa scored as Primera Liga leaders Atletico Madrid beat Elche 2-0 to pull six points clear.

Yaya Toure feels he does not get the respect he deserves because he is from Africa

Manchester City midfielder Yaya Toure feels he does not get the respect he deserves because he is from Africa.

Mail Box

Kieran's Not The Only One Keeping Notes

Another chap in the mailbox has been keeping notes on comments made by optimistic Man United fans. Plus, Garey Vance is offering a double-or-quits on his new tattoo...

Mignolet Is The Reason For Liverpool Flying

Mignolet's bad kicking is the reason for Liverpool's success, whilst one man keep notes on F365 mails. Plus England excitement, Arteta and a bad Walsall experience...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property