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Post by Macmoish on Jul 10, 2013 7:47:30 GMT
- If he does, guess we'll see how much of his own money he actually put INTO Fulham; and how much was a loan which he's more than getting back. |
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Post by Macmoish on Jul 10, 2013 12:45:30 GMT
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Post by Deleted on Jul 10, 2013 12:57:05 GMT
£200 million for Phlegm, you are having a laugh.... Do they have a covenant on the site ensuring it is used for sport? If not will look forward to another load of Thames side flats.....  Fulham...... |
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Post by corndog on Jul 10, 2013 15:34:38 GMT
I wonder if he knows more about running a football club than an NFL team. The Jaquars aren't a very good team and at best have been okay, but for the last few years have been one of the worst teams in the league. |
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Post by Deleted on Jul 10, 2013 15:42:49 GMT
Perhaps he knows a bit about riverside property!
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Post by corndog on Jul 10, 2013 16:04:07 GMT
Well I just looked it up, he just bought the team last year, and they were already in rebuilding mode. Apparently he is the reason they will play a game every year(starting this year) in Wembley stadium, this year they will get massacred by the 49ers. He has changed management, but other than that, we really can't tell how he will be as an owner for Fulham.
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Post by terryb on Jul 10, 2013 17:17:37 GMT
If the grocer goes Fulham will surely start on the road to the lower leagues.
If reports are correct he has written off all of his loans to the club. I can't imagine any future owner being so generous & their debt would grow rapidly if they continue spending at the current rate. This is in spite of them being one of the lower spenders in the Premier!
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Post by Lonegunmen on Jul 11, 2013 21:46:33 GMT
Watch them sink back down to where they belong.
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Post by Macmoish on Jul 12, 2013 21:44:10 GMT
Fulham Official Welcome To Shahid Khan Friday 12 July 2013 22:00 Mohamed Al Fayed has sold Fulham Football Club to Shahid Khan, the CEO of Flex-N-Gate Group and owner of the Jacksonville Jaguars of the National Football League in the United States. Shahid Khan: In The Media The transaction has been approved by the Barclays Premier League. Khan assumes 100 per cent ownership of the club, debt-free, as of today. A formal announcement is scheduled at Craven Cottage on Saturday at 1 p.m. London time. “My time of serving as the custodian of Fulham Football Club would one day come to an end, and I feel that time has now arrived,” Al Fayed said. “The time is right because I have found a very good man in Shahid Khan to accept the responsibility and privilege that I have enjoyed at Fulham since 1997. Fulham will be in very good hands with Shahid, whose success in business and passion for sport is very evident. I ask everyone who loves Fulham and our Craven Cottage home to welcome Shahid as he begins his journey as the next guardian of Fulham Football Club.” Khan added: “I was recently very fortunate to have been introduced to Mohamed Al Fayed, a man I respect and admire immensely for what he has accomplished in his life and – above all – what he has given others. Today, he is giving me the privilege and responsibility of serving as the next custodian of Fulham Football Club. I am extremely honoured to accept and want to thank him, on behalf of everyone who loves Fulham, for 16 years of exceptional service to the Club. Mr Al Fayed rescued the club in its hour of need and has led it to a sustained place within the Premier League. “Fulham is the perfect club at the perfect time for me. I want to be clear, I do not view myself so much as the owner of Fulham, but a custodian of the club on behalf of its fans. My priority is to ensure the club and Craven Cottage each have a viable and sustainable Premier League future that fans of present and future generations can be proud of. We will manage the club’s financial and operational affairs with prudence and care, with youth development and community programs as fundamentally important elements of Fulham’s future.” Khan is president and owner of Flex-N-Gate Corporation, the 14th-largest North American automotive supplier. Flex-N-Gate’s products include interior and exterior plastics, lighting systems, mechanical assemblies, metal structural body components, and exterior metal parts. In December 2011, Khan’s agreement to purchase the Jacksonville Jaguars was unanimously approved by the NFL, making him the first minority team owner in league history. Khan’s personable approach, enthusiasm and bold vision for the Jaguars have since made him a popular figure in Jacksonville and throughout the NFL. In 1967, at the age of 16, Khan left his native Pakistan for the United States and opportunity to study engineering at the University of Illinois at Urbana-Champaign. He began working for Flex-N-Gate in 1970, while still an engineering student. Following his graduation from the University of Illinois in 1971 with a Bachelor of Science in Industrial Engineering, Khan continued to work at Flex-N-Gate until 1978, when he left the company to start a new venture in designing and manufacturing innovative lightweight, continuous metal bumper systems, with no seams to corrode or rust. Today, nearly two-thirds of all North American pick-up trucks and sport utilities have bumper systems based on Khan’s designs and are manufactured and supplied by a Flex-N-Gate company. Khan returned to purchase Flex-N-Gate in 1980, building it into a global leader that today employs more than 16,000 people at 52 manufacturing and nine product development and engineering facilities throughout Canada, the United States, Mexico, Argentina, Brazil and Spain. A full statement from Mohamed Al Fayed follows: “It has been a pleasure and privilege to be the Chairman of Fulham Football Club for 16 memorable years. I am now delighted to be passing this great and historic Club into the care and stewardship of an outstanding man who has already achieved much in his life and will, I am sure, take Fulham on to even greater things. By his hard work, vision and determination, Shahid Khan has become a living embodiment of the American success story. His achievements speak for themselves. I met him twice prior to our successful transaction this week and have been very favourably impressed. I pay tribute to the way in which he has already, while still young, made his mark in the world. For my part, I am glad to be placing my precious Club into such good hands. I have loved every minute of my 16 years at the helm of the London club that was established in 1879, before all the other great clubs in the Capital. We have had some great times, down by the Thames. There have been notable successes, as champions of League One and winners of the Championship. We have had some memorable times in Europe. Fulham vs Juventus was probably the greatest game ever seen at Craven Cottage and the sight of the Fulham faithful filling their end of the Elbe Arena in Hamburg, at the UEFA Europa League final will be with me forever. But now is the right time for me to retire and spend time playing football with my grandchildren. I am sad but proud of our achievements. I am very grateful to Fulham’s fans, the most incredible fans in the world. They have given me their support and affection whenever they have seen me at home games. I would never let them down. I have passed the Club to a talented, honest and highly capable man who respects Fulham and its traditions. He is a great sportsman. Fulham is now embarking upon its 13th season in the Premier League. I bid farewell comforted by the knowledge that Fulham is a very well-run Club that has never been in better shape. I shall look to Shahid Khan to build on the success of the 16 seasons and to deliver the greater glory that the fans desire and deserve. I look forward to seeing you down at the Cottage where I shall return, on occasion, to cheer on the team. Now a new era dawns. Come on you Whites!” |
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Post by Deleted on Jul 12, 2013 22:11:32 GMT
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Post by sharky on Jul 12, 2013 23:55:26 GMT
Debt free?! What does that mean. In this day and age of "hiding" debts it could mean nothing or it could mean everything!
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Post by Lonegunmen on Jul 13, 2013 0:29:00 GMT
It means, that the guy probably paid back the loan Al-Fayed had against the club and some.
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Post by blatantfowl on Jul 13, 2013 1:31:12 GMT
Al fayed bought Fulham for £6m. The accumulated debt during his ownership was approx £175m all owed to him. Earlier this year he converted the debt into equity in the club. In other words he created shares in the club worth the same as the debt and allocated them to himself.
On paper this made the club worth £150m to £200m. The reality is though that the club is only worth what someone is willing to pay for it. I think the new guy paid the full price of £200m.
During his ownership Al Fayed would have made money one of a few ways
1. If he was paid a dividend or salary from the club
2. He was paid interest on the debts owed to him
3. On the new purchase price
4. Using the club as a massive publicity vehicle for himself.
5. Or he made a loss just for fun
All of the above is just what I read plus some guesswork from me, I am no expert. Fulham fans are very lucky under his ownership and that he found a new buyer.
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Post by blueeyedcptcook on Jul 13, 2013 1:34:57 GMT
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Post by blueeyedcptcook on Jul 13, 2013 3:00:47 GMT
Ah,ha, the penny drops. The new owner, who owns Jacksonville Jaguars, is a goose. The only reason he has bought Fulham FC is so he could acquire the stature of Michael Jackson. Get it Jacksonville/Jackson. Am I right, or am I right. I tell ya its takes a great mind to work these things out.  |
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Post by RoryTheRanger on Jul 13, 2013 11:10:10 GMT
Good luck on staying 'debt free' now hahahaha.
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Post by Macmoish on Jul 13, 2013 11:18:11 GMT
We'll see. But of course for Fulham Fans, I'd say Al-Fayed has produced - not just promised - unlike certain other owners!
Think back to what and where Fulham were when Al-Fayed came in/took over
(Forget the Michael Jackson statute, Gold Toilets and "Conpsiracy" to kill Doddi, etc....)
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Post by terryb on Jul 13, 2013 12:00:42 GMT
If I were a Fulham man I would be very worried today.
Like him or not, Al-Fayed was a good owner for them & thanks to his generosity it looks as if he left them debt free.
The chances of that being the case in twelve months time is pretty remote. I would find it hard to begrudge Fulham their place in the Premier if it were not for Paul Went but they will do very well to stay there for much longer.
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Post by Macmoish on Jul 14, 2013 21:22:16 GMT
Horrible headline but nothing here MAIL
We learn from their mistakes... Owner Khan insists Fulham won't become the new QPRBy Paul Collins PUBLISHED: 04:30 EST, 14 July 2013 | UPDATED: 15:23 EST, 14 July 2013 Fulham's new owner Shahid Khan has assured fans he will not make the same mistakes as west London rivals QPR. Supporters at Craven Cottage have bragging rights following Rangers’ relegation to the Championship, after Tony Fernandes bought the Loftus Road club and went on a frivolous spending spree. Now Martin Jol’s side have fresh funds and impetus, after Mohamed Al Fayed sold up over the weekend, and Khan says errors will be avoided. Hair today: Mohamed Al Fayed donned a comedy moustache in tribute as he handed over the Fulham ownership Hair today: Mohamed Al Fayed donned a comedy moustache in tribute as he handed over the Fulham ownership Tunnel vision: Al Fayed believes he club he has handed the club over to a 'great guy' in Khan Tunnel vision: Al Fayed believes he club he has handed the club over to a 'great guy' in Khan ‘You can learn from history,’ said the owner of NFL side Jacksonville Jaguars. ‘Of course I have looked at it. I am not talking about anyone in particular, but you want to learn from other people’s mistakes. ‘Randy Lerner (Aston Villa owner) and I have met when he was in the NFL, but this week I have not spoken to him. ‘Stan Kroenke? (Arsenal shareholder) I have spoken to him this week at length. And the Glazers (Manchester United) at length.’ Khan has flown out to Costa Rica where Fulham are on a pre-season tour to meet manager Jol and discuss plans for the upcoming season. No mistakes: Khan is wary of the problems that spending over the odds can causecause No mistakes: Khan is wary of the problems that spending over the odds can cause Down: West London rivals QPR went on a frivolous spending spree, but ended up facing relegation www.dailymail.co.uk/sport/football/article-2363572/Fulhams-new-owner-Shahid-Khan-assured-fans-wont-make-mistakes-QPR.html |
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Post by Deleted on Jul 14, 2013 23:28:25 GMT
nice to know we are teaching
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Post by bushranger1963 on Jul 15, 2013 7:58:49 GMT
Will be interesting to see what"level" Khan takes the fools to.
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Post by RoryTheRanger on Jul 15, 2013 8:41:39 GMT
Will be interesting to see what"level" Khan takes the fools to. League Two hopefully......... |
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Post by Macmoish on Jul 15, 2013 8:50:06 GMT
Was interesting that it wasn't leaked and drawn out...
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Post by Lonegunmen on Jul 16, 2013 4:46:01 GMT
Al-Fayed turned them around from a Division 4 club to a Premiership club. Their fans need to remember that.
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Post by bushranger1963 on Jul 16, 2013 18:19:31 GMT
Will be interesting to see what"level" Khan takes the fools to. League Two hopefully......... That would be just fine. |
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Post by ingham on Jul 20, 2013 11:24:28 GMT
I don't believe the debt-free nonsense. He was trying to get buyers years ago and couldn't. You mean that in this day and age, a buyer who is offered a Club for NOTHING wouldn't snap it up?
Ground and all? A riverside site like that? Free? Oh, with a few million to lubricate the transaction.
There's an easy way to make and keep a Club debt-free, but it means the owners lose money hand over fist, year in and year out. When they say they're paying for it all, they LOSE THEIR MONEY. No debt in the Club accounts, and no POSSIBILITY of any debt. They just meet all the bills out of their own pocket.
They don't do this because they want - at the very least - their money back.
Otherwise each goon simply loses his own money and looks like the mug he is when he makes mistake after mistake after mistake AT HIS OWN EXPENSE. Like the bunch at QPR. Hey, that was stupid, but wait till you see this! But they don't look so stupid - only the Club does - when they sell out at a profit of tens of millions!
And that's what they care about. Otherwise the Clubs would be run like the players, and the players would be in debt, playing for the Clubs in the hope that one day, no idea when, the Club will have money enough to pay them.
Take a look at how the PLAYERS' finances are run - and how protected they are by advisers (even the players union) - and ask yourselves WHERE ARE THE CLUBS PROTECTORS? Accountants to say 'don't trust this clown'. The Union to say 'eff off' you pay UP FRONT or they don't play.
The Clubs are providing the Fayeds and the Fernandeses and the equally useless players and managers with FREE MONEY, assets, free entertainment for their business pals and god knows what else.
Check the players. When the Clubs are run the way the players and their representatives run THEIR finances, I'll believe that these people are making their Clubs 'debt-free'
Debt free! The Clubs should be LOADED, stinking rich! Like the players and managers.
Get the Clubs an agent, and get rid of the spongers and freeloaders. The business world is filled with con-men. Isn't that why the Clubs are exposed in the way they are. So the con men can just siphon cash out of them as they please.
Try getting cash out of a player or manager!
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Fulham......
