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.
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
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?
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.
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.
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.