So, are you happy with them considering you irrelevant and only asking for your views for their own ends? It's worrying how some people are bowing to his every whim because he is a rich man. The FA slammed his previous application with no creditable business plan or research. It makes him look very foolish if you think about it; precisely why the mad old fart should NOT be allowed to do what he likes.
No, it depends on what the £6 million owed to Hull City Tigers Limited was spent on. £2.4 million plus interest was paid to RBS which leaves the balance to be accounted for. As I said in my original post it depends on my interpretation of the accounts. The warning was written on the tin. The headline figures are the same though. If the Council buy the SMC for a quid the people of Hull will pay £2 million to RBS on behalf on one of Assem Allam's companies and £6 million to another of his companies. That's a lot of money he wants us to pay.
The council arent going to buy, even they arent that stupid. Allam is telling them the smc is unworkable and unprofitable and he isnt/cant continue with it. Its leverage on giving him the stadium. They know it which is why they are doing **** all, they're hoping it all goes away but dont know how to make it. Whats man of the people johnson doing? No more press releases lately?
The council don't have to do anything with the lease. It doesn't cost them a penny. To make a profit all Assem Allam has to do is increase the rent he charges to Hull City Tigers Limited and if he can get away with it, Hull FC. If Johnson and the council do sweet fa about the Airco Arena Assem Allam can make a start by getting Hull City to pay a commercial rent to the SMC to put the arena into profit. Once we gets it back into profit he can start making payments to the Council as per the terms of the lease.
Just checked and the Allam's actually said they'd agreed to pay the balance £1.7m, rather than them having actually paid it, I remembered wrongly. That said, the accounts are well out of date by the are in they're in the public domain, so we've no idea if it's been paid off or not. Even if it is, there's zero chance of HCC taking it on.
Who would take it on? This is a genuine question for debate, forget who we are owned by, was asking for the KC for free, actually a better deal going forward, than giving back the lease for a pound? I am undecided myself, honestly undecided. My feeling is that a partnership between, HCC, SMC and a developer may be a protracted and in the end be unsustainable. Ie the return would not, justify the cost. A partnership between, SMC, developer and supporters trust would be ideal, but would,it actually be realistic and would it only cover the liabilities and not an increase in the capacity of the stadium?
Looking on companies house I can't see any mortgages in either Superstadium Manangement Company Ltd or Superstadium Holdings Ltd. There is an oustanding mortgage in Hull City Tigers Ltd from December 2010 (charge no. 8).
I cant see how it is realistic with a trust TOM. They have no money. I wouldnt go into a partnership with a partner with no money. Allam is the only game in town.
Supporters Trusts open the doors to funding, if you want local. regional, national or eu funding and grants, having a partnership with a Supporters Trust is a ticked box. Supporters Trusts are good things Chazz.
I've never said they arent. Didnt know that, still i cant see any businessman sharing profits with one or giving shares to one.
It's true that supporters trusts have the ability to raise cash, legislation was recently changed to positively encourage it.
I believe fully in supporter involvement in football clubs, always have and always will. I also have always said that I do not believe that single issue protest groups make for good supporters trusts. I would not join CTWD and said why at the time, I will not join HCST whilst it does not have a working relationship with the club. It does not mean that I do not support the principle.
