Quote: Obadiah "The market rate for the KC would be what Hull FC pay the Council per game for its use.
Manchester City pay £2 million rent and £2 million for the naming rights if your figures are correct. Which means they pay £2 million pa for the stadium. Half of what Hull City AFC paid in 2013-14 accounting year.
Swansea City is similar to us. The football club and rugby club pay monies to the stadium management company for the maintenance of the stadium as well as the peppercorn rent. Both Swansea City and the rugby club each pay over a £1 million a year for the stadium up keep.
My approach is simple, the SMC is making losses and if the lease is revoked Hull City Council will be responsible for running the stadium complex and any losses it makes. Hull City AFC pays rent of £4.3 million which is above what would be judged a market rent, so the rent is likely to be reduced significantly when a new agreement is negotiated. In broad terms it would be similar to the rent Hull FC would pay for use of the same facility. Unless the Allams agree to pay more out of civic duty.'"
Without seeing detailed accounts, I'd take any running costs, profits/losses with a pinch of salt. Since the days of bartlett the finances of the football club have been intertwined with those of Hull city and I don't beleiee for one minute the figures which have been banded around. From memory, a couple of years ago, Hull paid £750k for a yer which included the small shop and offices they use and 13 or so rugby games. We then get told that the SMC are losing money hand over fist on our contract. Too many questions are unanswered but I for one don't believe it costs north of £5m a year to run the KC for the football and rugby clubs when the likes of the DW and John Smiths seem to be operated for much less.
It#s long past time when some vindictive individual should be able to hold a sword above the head of a professional sporting club in a council owned facility. About time someone stood up to him