It's simply the classic pre-Management Buy Out situation.

Run the business to incur losses to a point where the owners (HCC) simply want to unload the operation.

A forensic audit of the SMC's accounts would soon discover the changes that led to the SMC going from making modest profit to massive losses, I just hope HCC have the powers and the wherewithall to order such an audit

Just downloaded copies of accounts for SMC, City and Hull - they cost 96p each.

To 30 June 2014, it seems SMC income from City was £4.3m, compared to our £531k

Costs for City were £1.8m compared to our £1.2m.

City's and SMC have the same accounting period, so some of the numbers should match up .........??

(City getting parachute payments that year.)

I wonder how much money his International Squash thing made? Oh dear.

I wonder how much money his Polo thing made? Oh dear.

How many events does the arena host now? Oh dear.

When was the last time the stadium hosted anything other than a football / rugby game apart from Allams little hobbies?

If they can't see that he's using the stadium as his personal plaything then I despair.

It would be very interesting to see the break down of the costs and also the basis of allocation of those costs. On the basis we get use of the stadium for first team games ONLY (13 SL games, a friendly against rovers after perhaps a cup game) let's say 15 a season. City get use of the stadium for first team games, some U21 games, training etc, the costings look "manipulated" to say the least. 40% of total cost for 20% (estimated) usage does not add up.

The recent increases in food and drink prices is also either poor management (if they make a loss on food and drink then they really are business inept) or an attempt to reduce income from RL games further as less people will pay the now extremely over priced things they sell.

Either way, as a tenant of a facility owned by the public sector I would hope the management of Hull FC are in communications with the owners about this situation and why it appears the figure look stacked against Hull FC.

Allam is out to destroy Fc that there is no doubt. Reason being his failure to get the Kc and more so the land.Since he was knocked back he has stepped up his aims to drive Fc away and his hope is the fans will turn on the council who he hates even more. I said months ago I feared for our great Club and shutting the Raich Carter suite for the presidents ect is another vindictive move.Wilf is correct in his views on Humberside they never really get into Allam and always side with him whatever he does.HDM are the same ,today the they had a article on the SMC yet did not allow anyone to comment on it..Why? they know it will be full of negatives against Allam and they will not let that happen. It time for the council to act before it is to late or we will not see Fc for many more years ,probably 2/3 and he will get what he wants

Have a look at the notes to the accounts for 2010 which Allam signed off. FC made a positive contribution to the SMC before indirect cost allocation.

As stated elsewhere, we put £600k into the SMC each year. A loss of £1.1m implies it costs £1.7m for us to play at the KC 13 times. £131k per game. Does anyone know what the costs are for Wigan and Huddersfield?

Did the SMC make a profit on the squash and polo?

The HDM and RH won't pose any challenging questions, that's the only certainty.

Maybe its time the citizens of Hull started asking the stadium owners then.

And presumably rlthisrl has some effect on Mr A too?

deleted

Need to clarify a bit.

Costs are actually called Direct Costs.

There are also "Administrative Expenses", City: £950k, Hull FC: £480k

This makes City about £1.6m profit for the SMC, Hull FC nearly £1.2m loss.


Odd that the final section, with all the meaty numbers, is headed "for the information of the directors only".

edit: same heading near the end of the City accounts.

It's worse than that - £1.7m, with Hull contributing just over £500k, bringing the net cost down to £1.2m

What's the odds that we're being charged something stupid for the pitch markings to be changed from football to rugby, for the football posts to be taken down and then the whole shebang reversed when we're done.

And city pay nowt towards it.

I'm the first one to admit that annual accounts are not my strong point, so this is just what I can see.

SMC say City's costs add up to £2.75m

City's accounts entry for "Stadium Expenses" is £2.18m

Same auditors, which I suppose you'd expect.

Quote: ccs "What I can't understand is what has changed in the last few years to make the accounts looks so bad (apart from the obvious!). For example, city's average attendance in the first 6 years was about 16k, ours was under 12k, but the SMC managed a profit. Now Hull FC is losing them £1.1m with attendances down about 2k.'" Just repeating this post for the sake of the City Not606 forum, as some seem to find it difficult understanding the difference between the words first and last. www.not606.com/threads/hull-city ... st-7630103

Quote: ccs "What I can't understand is what has changed in the last few years to make the accounts looks so bad (apart from the obvious!). For example, city's average attendance in the first 6 years was about 16k, ours was under 12k, but the SMC managed a profit. Now Hull FC is losing them £1.1m with attendances down about 2k.'" Just repeating this post for the sake of the City Not606 forum, as some seem to find it difficult understanding the difference between the words first and last. www.not606.com/threads/hull-city ... st-7630103