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New owner confirmed…

Discussion in 'Hull City' started by Hutch-tiger69, May 30, 2016.

  1. 1MoreAgain

    1MoreAgain Well-Known Member

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    They should just make a sticky and call it talk ****.
     
    #3961
  2. Barchullona

    Barchullona Well-Known Member

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    Are you the Warwick Tiger who used to wear a tiger suit?
     
    #3962
    Easy Tiger, Leon T Trout AFC and GLP like this.
  3. tigers 2008

    tigers 2008 Well-Known Member

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    They will not wish to be the owners if they cannot carry out all their plans, this is where the current owners came unstuck having presumed that they would get their own way regarding the stadium and the locality.
     
    #3963
    balkan tiger likes this.
  4. petersaxton

    petersaxton Well-Known Member

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    Things seem to be happening.
    Two mortgages have been satisfied in full re the Superstadium Management Company Limited:
    Freehold land and buildings on County Road North
    and
    Land at Millhouse, Woods Lane, Cottingham.
     
    #3964
  5. Kempton

    Kempton Well-Known Member

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    Promising :emoticon-0100-smile
     
    #3965
    Stockholm Tiger and petersaxton like this.
  6. Stockholm Tiger

    Stockholm Tiger Well-Known Member

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    Peter unless that information came from Twitter or a Facebook group I'm not sure we can trust it....
     
    #3966
    dennisboothstash and DMD like this.
  7. petersaxton

    petersaxton Well-Known Member

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    You are wise to only trust twitter and facebook. I got it from Companies House. They might have deleted it by now or had the account closed.
     
    #3967
  8. Yardley Tiger

    Yardley Tiger Active Member

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    Thank you PS. Some actual news at last.
     
    #3968
  9. dennisboothstash

    dennisboothstash Well-Known Member

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    That sounds significant
    Not that I even knew they were mortgaged in the first place
    Easier to sell as part of the whole package without a mortgage ?
     
    #3969
  10. petersaxton

    petersaxton Well-Known Member

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    There seems to be a lot put through the SMC that doesn't need to be.
     
    #3970

  11. Happy Tiger

    Happy Tiger Well-Known Member

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    Pete, for the benefit of any non accountants, what does this news mean?
     
    #3971
  12. Kempton

    Kempton Well-Known Member

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    Until there's an 'Allams done one' thread, the Prosseco stays on ice.
     
    #3972
    balkan tiger and PLT like this.
  13. petersaxton

    petersaxton Well-Known Member

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    I suppose the SMC (or more likely somebody connected to the SMC) borrowed money and the SMC offered the land has security. If the chinese were buying the SMC they wouldn't want a mortgage on the property if somebody else had borrowed the money so they wanted the mortgage cleared. Whatever happened I suppose the chinese, while doing due diligence, wouldn't want a messy balance sheet they they would have to try to unravel at a later date so they would be insisting the Allams make things simple.
     
    #3973
  14. Obadiah

    Obadiah Well-Known Member

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    Adam Pearson bought the training ground at Cottingham and the Ideal Standard site on North Road with the help of mortgages from Beverley Building Society in the name of the SMC. Assem Allam sold both pieces of land to Hull City Tigers Limited so it may just be a tidying up exercise as a result of the sale. Both mortgages are around 10 years old so the final balance may be quite small and easy to pay off.
     
    #3974
    dennisboothstash likes this.
  15. petersaxton

    petersaxton Well-Known Member

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    I'm sure you know more than me about these kind of things but according to the charges that were satisfied they were in the name of the SMC so they must now be owned by the SMC otherwise there couldn't be two charges to be satisfied.
     
    #3975
  16. The Omega Man

    The Omega Man Well-Known Member

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    HCC has to approve of any sale or disposal of shareholding above 51%. HCC cannot refuse to give consent, but they must be satisfied that the new owners will keep to the terms of the lease, manage the property and be of good standing.
     
    #3976
  17. Cityswall

    Cityswall Well-Known Member

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    This is kind of the same arguement as about the Chinese passing the FA ownership test.

    My answer will be the same on this as well. HCC just like the FA cannot wait to see the back of the Allams they will welcome the Chinese with open arms.
     
    #3977
  18. originallambrettaman

    originallambrettaman Mod Moderator
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    It's just a formality, it would be approved whatever the circumstances (short of the purchaser being a convicted fraudster).
     
    #3978
  19. Cityswall

    Cityswall Well-Known Member

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    Exactly it's just knicker twisting by some on here but let us be honest they would need to be VERY dodgy for the FA to turn them a down after how much the Allams have ****ed the FA off. The HCC is exactly the same as I can't ever see them saying 'No sorry we would rather keep dealing with the Allams'.
     
    #3979
  20. Obadiah

    Obadiah Well-Known Member

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    When Assem Allam was in dispute with the Royal Bank of Scotland he mentioned that the Council lost control over who owns the KC stadium. If I remember correctly he said something along the lines of:

    the ownership of the SMC remains with the holding company created by Bartlett so there's no need for the Council to give their consent. The Council has no say in who owns the shares in the SMC's holding company.
     
    #3980

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