Quote: WormInHand "The Allams are blaming the SMC losses on a number of factors they claim were inherited from previous owners, and binding commitments that now appear to be unpalatable. Clearly, when they bought the SMC, they knew what they were buying into so there's no justification for the current wringing of hands and finger pointing.
One thing that is intriguing me, however, is the £3.5M mortgage they inherited. And therefore would be secured against that land.
If this is the case a few questions arise
But if the mortgage wasn't for Hull City's purposes, what has the SMC spent £3.5M on 4 years ago?'"
My guess is a diamond encrusted sarcophagus. And £1m to rovers