1. Log in now to remove adverts - no adverts at all to registered members!

New owner confirmed…

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

  1. augustatiger

    augustatiger Well-Known Member

    Joined:
    May 16, 2011
    Messages:
    2,359
    Likes Received:
    1,138
    Came for the free water bottle bonanza.
     
    #21941
  2. Top_Tiger

    Top_Tiger Well-Known Member

    Joined:
    Dec 8, 2014
    Messages:
    2,764
    Likes Received:
    1,806
    Any potential owner will sack the manager, the coaches absolutely everyone. Pay off the loan buy some players a decent recruitment guy and upturn a understrength squad. There no way we stay up under Ehab.
     
    #21942
  3. philhul

    philhul Well-Known Member

    Joined:
    Jan 27, 2011
    Messages:
    2,127
    Likes Received:
    811
    No Turks but Barry Fry had a smile on his face :angry:
     
    #21943
  4. BillyBlysPaperboy

    BillyBlysPaperboy Well-Known Member

    Joined:
    Nov 9, 2011
    Messages:
    178
    Likes Received:
    321
    In reply to Phil Buckingham’s Athletic report on the Sale of Hull City.
    @DannyHods on Twitter says the only thing holding the sale up. Is that the Allams want to keep hold of the SMC!
    As the lease is held by them till 2054.That would be disconcerting to say the least. On a previous proposed sale they tried to add on £2 million for control of the SMC allegedly. The council would also have to agree any change of the leaseholder.
    Just hope that this is just a rumour! It’s the hope that kills you!

    Billy B
     
    #21944
  5. SW3 Chelsea Tiger

    SW3 Chelsea Tiger Well-Known Member

    Joined:
    Jan 27, 2011
    Messages:
    8,618
    Likes Received:
    11,787
    Thanks. I would be amazed if this was true, the smc is a toxic asset, it’s losing money.
    What purpose could they have in retaining it?
     
    #21945
  6. balkan tiger

    balkan tiger Well-Known Member

    Joined:
    May 10, 2014
    Messages:
    12,358
    Likes Received:
    9,478
    After the new owners take over then the Allams can turn up as owners of the SMC and sorry but we have to increase the price you pay to play in our stadium. They would have them by the short and curlies.
     
    #21946
    dennisboothstash likes this.
  7. Gone For A Walk

    Gone For A Walk Well-Known Member

    Joined:
    Feb 5, 2011
    Messages:
    7,659
    Likes Received:
    10,065
    ... and FC / Adam
     
    #21947
  8. Plum

    Plum Well-Known Member

    Joined:
    Apr 19, 2013
    Messages:
    14,447
    Likes Received:
    10,243
    I'd have thought any new owner would be wise to that sort of chicanery.
     
    #21948
  9. balkan tiger

    balkan tiger Well-Known Member

    Joined:
    May 10, 2014
    Messages:
    12,358
    Likes Received:
    9,478
    Yes them too, pay the going rate or get out.
     
    #21949
  10. balkan tiger

    balkan tiger Well-Known Member

    Joined:
    May 10, 2014
    Messages:
    12,358
    Likes Received:
    9,478
    I really hope so.
     
    #21950
    David Ayre likes this.

  11. SW3 Chelsea Tiger

    SW3 Chelsea Tiger Well-Known Member

    Joined:
    Jan 27, 2011
    Messages:
    8,618
    Likes Received:
    11,787
    They can’t though, a lease is in place until 2054
     
    #21951
    Howdentiger2 likes this.
  12. dennisboothstash

    dennisboothstash Well-Known Member

    Joined:
    Feb 2, 2011
    Messages:
    21,439
    Likes Received:
    32,166
    Lease from Council to SMC or SMC to City?
     
    #21952
  13. SW3 Chelsea Tiger

    SW3 Chelsea Tiger Well-Known Member

    Joined:
    Jan 27, 2011
    Messages:
    8,618
    Likes Received:
    11,787
    Smc to city I think
     
    #21953
    dennisboothstash likes this.
  14. dennisboothstash

    dennisboothstash Well-Known Member

    Joined:
    Feb 2, 2011
    Messages:
    21,439
    Likes Received:
    32,166
    Yeah that’s safe then if that’s the case (depending on rate increase clauses)
     
    #21954
  15. originallambrettaman

    originallambrettaman Mod Moderator
    Staff Member

    Joined:
    Jan 24, 2011
    Messages:
    107,536
    Likes Received:
    64,725
    The lease is between the SMC and the Council.
     
    #21955
    SW3 Chelsea Tiger likes this.
  16. dennisboothstash

    dennisboothstash Well-Known Member

    Joined:
    Feb 2, 2011
    Messages:
    21,439
    Likes Received:
    32,166
    In that case that isn’t a good thing (if the rumour was correct)
     
    #21956
  17. Chazz Rheinhold

    Chazz Rheinhold Well-Known Member

    Joined:
    Jan 28, 2011
    Messages:
    53,750
    Likes Received:
    43,954
    Always an upside to everything
     
    #21957
  18. mike_hcafc

    mike_hcafc Member

    Joined:
    Aug 19, 2011
    Messages:
    68
    Likes Received:
    53
    Nothing would surprise me with them laid anything to allow them to control things going forward.
     
    #21958
  19. The Omega Man

    The Omega Man Well-Known Member

    Joined:
    Feb 20, 2011
    Messages:
    8,278
    Likes Received:
    5,664
    Hull City Council owns the Stadium. The Council has a head lease with the SMC setting out covenants on the use of the facility and placing all costs for maintaining and operating the Stadium on the SMC. This does not cover any arrangements with Hull FC or Hull City.

    The SMC has separate agreements with Hull FC and Hull City for use and occupation of the Stadium which the City Council is not a party to. Under the terms of the lease the Council only receives a percentage share of the SMC’s net profit before tax.

    The covenants on the lease are that it remains a venue for Rugby League and Football. The council have to approve any sales or transfers of shares. Adam Pearson sold his shares in SMC to Russell Bartlett for £6m and Bartlett promptly mortgaged the interest on the lease with RBS.
     
    #21959
  20. originallambrettaman

    originallambrettaman Mod Moderator
    Staff Member

    Joined:
    Jan 24, 2011
    Messages:
    107,536
    Likes Received:
    64,725
    It's in place until 2052, but I'm not sure if there's sub-leases to each club that don't run for that long.

    When Pearson talked about FC getting their own stadium, he mentioned that the current lease expires in 2028.
     
    #21960
    SW3 Chelsea Tiger likes this.

Share This Page