Is Ilicali’s intent to buy City finally the ‘real deal’? TURKISH MEDIA MODUL’S PLANS
COULD END LONG-RUNNING SAGA
The international break has been filled with talk of big money takeovers, with Newcastle United swapping Mike Ashley for the Saudi Arabian Public Investment Fund. Newcastle were not the only club the subject of takeover talk, with Hull City fans desperate to see the end of the Allam regime after 11 years.
There has been no shortage of takeover stories involving a potential sale of the club in the past, but we’ve again arrived at a time when interest is strong and a deal is believed to be close to being agreed.
Here’s everything we know so far on the latest developments...
What’s the background?
For those City fans, the last seven years or so have been a long and tiring time ever since the Allam family first said they’d be willing to sell the club.
There have been numerous rumours and failed bids during that time, leaving those supporters drained of takeover talk and a belief that their club will ever be free of the Allams’ control.
While there have been successes during their ownership; promotions, FA Cup final appearances and a European campaign, their last few years have been a real struggle, as has their bid to move the club on to fresh owners.
We’ve had consortiums, interest from Saudi Arabia and the Dai family also tried to buy the club, but nobody has yet been able to take up Assem Allam’s offer of giving it away for free.
What have the owners said recently?
“The same as I’ve always said, we have interested parties, I would say more so now because of the promotion and also finishing top (of League One),” Allam said in an interview with the club website in June.
“For me, it is business as usual as I’ve always said until there is somebody serious and there’s an offer on the table which is acceptable, it’s business as usual.”
What do we know about the current situation?
There has been interest in the Tigers throughout the past 12 months even despite the coronavirus pandemic, and the latest comes from Turkey in the shape of Acun Ilicali, a media tycoon in the country.
A former journalist, Ilicali recently had involvement in Dutch club Fortuna Sittard, though he has since removed himself with sources in Holland citing his desire to have a greater influence in team affairs as a reason why friction within the club was felt and he moved on, wanting to invest in an English club.
What’s been said?
Ilicali has spoken openly of his desire to buy the Yorkshire club, revealing his plans and a desire to see a Turkish presence within the corridors of power at the MKM Stadium.
“I’m thinking of buying Hull City club in England. The other side trusts us. If God permits, my dream will come true,” he told News Global. “I want to fly the flag of our country in England with the success of Hull City. I hope Hull City will consist of Turkish people, from its coach to certain football players in the future. My goal is to create a team that makes a sound in the world.”
What can we expect the club to be worth?
Given the recent accounts revealed just a few days’ ago, City’s losses of just over £8m coupled with loans owed to the Allam family of around £39m show how reliant it has been on the ownership, particularly once the Premier League parachute payments ended two years ago.
Football finance expert Kieran Maguire told Hull Live just last week that he believed the club would be worth between £20m and £25m, considering the deal it has with the council around the MKM Stadium.
Is this different to the other false dawns?
Time will tell, but there are things happening behind the scenes at Hull City which give confidence to a deal being done.
While the formal process of due diligence is still yet to take place as we understand it, there is a growing confidence from sources close to the deal that Ilicali can agree terms with the Assem Allam.