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Quote: 13rovers "Incidently, who said it's only £1million? The quotes actually say "a seven figure sum"!'"

£1million [iis[/i a seven figured sum. In the absence of anything more detailed it's as good a working figure as any.
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Quote: Kosh "Yes. Allam said it was a soft loan, which means a loan with a lower than market value interest rate and/or preferential repayment terms. Given the statement about not making a return it's safe to assume that the interest rate is zero. The repayment terms have not been made public, but it [iis[/i a loan rather than a gift.'"



Correct, but thats not what most KR supporters believe is it, they think that Mr Allam has given them £1 million in some sort of deal to stitch up FC icon_lol.gif icon_lol.gif icon_lol.gif

Even a zero rate loan is good going if that is what it is, makes you wonder why they had to go cap in hand to him for money.
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Quote: Ian P "Correct, but thats not what most KR supporters believe is it, they think that Mr Allam has given them £1 million in some sort of deal to stitch up FC
We really don't. Some of us have our concerns but are prepared to see how this initially pans out.
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Quote: Ian P "Correct, but thats not what most KR supporters believe is it, they think that Mr Allam has given them £1 million in some sort of deal to stitch up FC
Because like many Rugby League clubs we are working at a loss year on year. No club can continue to do this without some sort of insolvency over the years. We have fought hard to avoid liquidation and spent around a decade in administration just to try and keep our heads slightly above water.

Like any business that is struggling during these economic hard times loans and good will gestures are needed. I refuse to believe that if anyone came to the Hull FC board and offered them £1m whether it be an interest free loan or out of good will they would refuse it. Only if it were David Lloyd would it be turned down IMO. No rugby league club could afford to turn that kind of amount down especially with it being specifically designated for players and stadium development.

I do not honestly believe Mr Allam has done this to stitch anyone up, he is wanting to invest heavily in West Park which will improve Hull FC's training facilities and allow for better corporate hosting (with the Hotel) that could lead to bigger sponsorship deals...etc. If this £1m gets the Allams the votes they need to buy the stadium and land and that then nets Hull FC a massive sponsor worth more than that amount how would this be stitching Hull FC up?

The prospects look gold plated but obviously in life nothing is this simple and there would appear to be an agenda and listening to some people that have close dealings with the Allams he isn't one to take at face value. This being said anyone that is going to spend over £100m on sporting facilities in the city has got to have at least some good in them. Let's give this a chance, sure we as a city have been bitten during the Lloyd era but we all came through that and are all in much healthier positions so I am damn sure any one of the three clubs can come through it again.
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