| FORUMS > Hull FC > VERY worrying conversation just had |
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The SMC will be safe
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Stop the clocks.
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| Quote: Holty "The SMC will be safe'"
Or rather the KC stadium will be safe. Who runs it, well, that may change. |
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Look on the bright side, it may revert to being run by our fine council !
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| Quote: Hutchie "Look on the bright side, it may revert to being run by our fine council !'"
Yup, joyous! |
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| The Stadium is owned by The Hull City Council
And is managed by the SMC who hold a 50 year lease
That lease has clauses in it for thing that go wrong
But the true owners are Hull City Council who meet with the SMC on all matter to do with the Stadium ..Hull FC has the agreement with the City Council but pay they share of the rent to the SMC ..The SMC cannot do any changes to the Stadium without permission from the Council .. All the SMC do is run the Stadium for Hull City Council ... Hull City,s Football Club problems are not our or the other parties that share the KC Stadium  ps other people have friends in high places as well |
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| Quote: kt170496 "The Stadium is owned by The Hull City Council
And is managed by the SMC who hold a 50 year lease
That lease has clauses in it for thing that go wrong
But the true owners are Hull City Council who meet with the SMC on all matter to do with the Stadium ..Hull FC has the agreement with the City Council but pay they share of the rent to the SMC ..The SMC cannot do any changes to the Stadium without permission from the Council .. All the SMC do is run the Stadium for Hull City Council ... Hull City,s Football Club problems are not our or the other parties that share the KC Stadium ![]()
Plus ours is a 25 year deal with an option for another 25 year, there is no doubt if you speak to those in the know that City will go into administration if they go down, but the SMC is a seperate entity altogether. It is constituted as seperate from the football and rugby clubs and as you say beholden to the owners o the Stadium, the Council. The biggest threat to RL clubs at the moment particulaly those who are really struggling, is the Sky/Ofcom issue, which if they don't successfully appeal, could see clubs TV money cut by 40% at least that would see some borderline clubs immedately go to the wall!
If for any reason the SMC should go to the wall the owners of the facilty, the Council, would simply replace it!
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| Quote: The Dentist Wilf "Plus ours is a 25 year deal with an option for another 25 year, there is no doubt if you speak to those in the know that City will go into administration if they go down, but the SMC is a seperate entity altogether. It is constituted as seperate from the football and rugby clubs and as you say beholden to the owners o the Stadium, the Council. The biggest threat to RL clubs at the moment particulaly those who are really struggling, is the Sky/Ofcom issue, which if they don't successfully appeal, could see clubs TV money cut by 40% at least that would see some borderline clubs immedately go to the wall!
If for any reason the SMC should go to the wall the owners of the facilty, the Council, would simply replace it!'"
From scanning through the information available it looks to me like the SMC and city are pretty much one and the same to RBS as bartlett owns both, has provided guarantees and hocked the lease. I'm assuming it is the SMC lease, not city's as the former has commercial value whereas the 2nd one doesn't.
The council really, IMO, should have had clauses in the lease to prevent this so maybe it is city's lease they have which really isn't worth anything other than to someone who buys city.
You'd hope also that there are clauses in the lease where it is cancelled in circumstances of insolvency, which will protect us in these circumstances. |
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| A Large sponsor of Hull City today told me over lunch that if City go down they are likely to go into administration with immediate effect!!!
Quote: hitro the maneater " ![]()
How can you have such a negative attitude towards your local football team?
Edited: I'll get it right eventually. Doh
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| Quote: diggergraves "How can you have such a negative attitude over your local football team? ![]()
Because Hull is like a big village
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| Quote: Jake the Peg "Because Hull is like a big village'"
Cottingham? |
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| Quote: Jake the Peg "Because Hull is like a big village'"
royston vasey |
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| Quote: hull smallears "Cottingham?'"
North Hull in disguise |
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| Quote: Jake the Peg "From scanning through the information available it looks to me like the SMC and city are pretty much one and the same to RBS as bartlett owns both, has provided guarantees and hocked the lease. I'm assuming it is the SMC lease, not city's as the former has commercial value whereas the 2nd one doesn't.
The council really, IMO, should have had clauses in the lease to prevent this so maybe it is city's lease they have which really isn't worth anything other than to someone who buys city.
You'd hope also that there are clauses in the lease where it is cancelled in circumstances of insolvency, which will protect us in these circumstances.'"
They 'Should' be totally separate! |
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| Quote: Holty "They 'Should' be totally separate!'"
But i think now we know they are not...... |
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