The debts have not been funded through Hull City as nobody would loan us the money !! All loans have been made through his holding company secured against his other businesses as we have no assets to secure them against
Absolutely. How else would it be financially viable in the long term? You can't just build "a sports village" with nothing else there to generate revenue. You need retail (preferably not just the usual suspects), you need hotel-type development, and you need places people can go and eat/drink. Swimming pools, squash courts, tennis courts, football pitches and the like do not revenue streams make. Only an idiot, or a Hull City councillor, would find anything untoward in the idea of a sports village that isn't all sports facilities.
I agree but i have doubts that we will ever fill a 35000 capacity stadium regularly. Unless we won the league etc, which isnt going to happen. If say the East Stand holds 6000, if you made it all standing how much would/could that increase it to? That would be the cheapest option. As I said earlier no one wants a Hotel there its a ****hole
Same argument as before. Who would spend money on a property they did not own. ie, who should pay for a ground extension? Who should pay for rail seats to be fitted?
The East Stand Upper would take us just over 30,000 and I think if we stay in the Premier League, that's what we need. If we were to add safe standing, it would more than likely be behind a goal, so you could increase the North Stand capacity from 4,000 to 7,000. So in theory, we could convert the North and South stands and increase the capacity from 25,400 to well over 30,000, without actually altering the fabric of the stadium at all. It's also estimated that you can drop ticket prices for the standing seats from £25 to £18 and still increase matchday revenue by over £2m a season(assuming you sell them all). It would be hoped, that if you developed the area, others would develop the area around it and it would cease to be such a ****hole.
That all sounds good but Allam cant afford to buy the stadium build a tier on the East and develop the land, while I imagine he would have to employ useless ****ing council workers to do it and have them running it (the sports bit). The area just isnt in a good enough spot hemmed in like it is. Its justnot attractive enough for a hotel ot retail and the council wont want anything taking away from St Stephens.
I am sure that a loan agreement must be in place between the family holding company and Hull City for legal reasons. This is so that the holding company as lender can demand payment from Hull City and opens the door for securing against Premier League payments when Hull City say they can't pay. I know one man is pulling all the strings but these pieces of paper are essential to proving the debt exists when required to do so.
I agree that if any development were to take place then the stadium must not be hemmed in as was the case with the supermarket at Boothferry. Lessons from that must be remembered
The loans are all secured against the assets of Allam Marine, Allamhouse owns both, he can't screw one without screwing the other, making this a rather pointless debate.
It is not pointless, whatever course they have in mind be it private sale, securing debt against PL payments, a combination of those two, or any formal insolvency process there has to be paper work in place showing Hull City have debt in order for Allamhouse to receive any money.
I've not read all this thread so forgive me if I've got the wrong end of the stick but if you are talking about allamhouse loans to the club then are you sure they're secured against allam marines assets? Last time I looked they were secured against Cottingham, Princes Quay shop etc. It would be unusual for a loan from a parent company to another corporate body and secure it against assets that had nothing to do with the loanee
I find the whole notion that the future development of the KC Stadium and surrounding land is anything other than beneficial, if done by and for the club, is simply daft. This simple factor has been behind the rationale of Pearson, Bartltt and Allam;the first two lacked funding, Allam lacks charisma. I think the sports complex was always designed to include elements of further hotel, retail and wining and dining; I also think that the ratio between these was always flexible. Every regeneration scheme starts somewhere and this would be an excellent beginning. The redevelopment makes sense, but the way it has been approached is scandalous, due to the petty nature of the key players. The one good and somewhat ironic result of all this is that the football must now take its rightful role of centre-stage, because relegation spells fooked.
