The concern would be if they don't go up and either bail out or cut costs, then the smc's future is in doubt. This would currently seem to be a potentially bad thing all round. If they get up, then there is more cash to oil the wheels.
I know the strained relationship between the clubs means that them losing maybe feels like a win for you, but I don't think that is the case with this - certainly in the short term.

Would be even more worrying if we owed him a million quid and were pinning our hopes on him buying our club

The million was a gift. And we are not pinning our hopes on him buying our club. Mr Allam already has enough on his plate trying to get his hands on £120 million and annoying Adam Pearson.

It was a loan which Hudgell has stated is being repaid.

Football money is stupid:
John Meehan ‏@MeehanMedia
Interesting that #Hull City manager Steve Bruce appears in the @thesundaytimes sport #richlist. He's ranked equal 77th with £14m. #hcafc

Neil Hudgell stated at a fans forum that £625,000 was still left over from the loan

Must be true then

Truer than your 20 insider info posts that have failed to materialise.

my my you really are an obsessed little man arnt you

So? Even if this is true (which Fans' Forum, hmm?) what's that got to do with having to repay the loan? I'd give it back, if I were Hudge. Fancy making debt repayments on funds that are just sitting in the bank.

Which fans' forum?

Didn't the Council Leader say he would hold a city wide referendum over the sale of the K.C. Stadium? Would any would-be councillor risk the wrath of the public come election time by selling it off to Allam?
It will be interesting to see how long he hangs around if Hull City fester at the bottom of the Premier League prior to their probable fall back to the Championship.

Yes, he did.

My worry is that Allam would pump loads of cash into a referendum campaign to promote his "philanthropist intentions" and most Hull people not familiar with the situation would believe it. Plus he has the Mail and Humberside on his side. The council won't mount a counter-campaign as they are the "impartial" party asking the electorate. A referendum would be the worst case scenario for me, because if the public voted for it, lots of legal challenges could be overcome, I guess.

Plus the Labour ruling group are aligned more against him, I gauge. This would be very different if the Lib Dems took control.

Not sure if its been mentioned but any money council get from the sale of the stadium cannot be used to fund other council services ie dustbin men etc.