FORUMS FORUMS



  
FORUMS > Hull FC > o/t Allams 'want to buy KC Stadium'
139 posts in 10 pages 
<<   PREV  NEXT   >>
Subscribe | Moderators: Admin, Kosh , Roland_R , Karen
RankPostsTeam
Player Coach3231No
Team
Selected
JoinedServiceReputation
Aug 200519 years
OnlineLast PostLast Page
Sep 2024Nov 2017LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



The council can sell the KC if it wants to.

What it cannot do is sell for less than it is worth. That would lead to an investigation by the District Auditor and potentially the councillors who made the decision having to pay surcharges to cover the loss.

What is the stadium worth? It cost £46m to build. That figure does not include the value of the land on which it stands and the surrounding land.

The Allams are said to be worth £180m. They have already invested £40m in Hull City. Could they afford to buy the stadium? It would mean putting over half of their total wealth into Hull City/the KC so probably not without borrowing the money, which would doubtless be secured against the stadium itself.

If the stadium is sold it does not affect Hull FC's lease. Yes they could try to buy out Hull's interest in the lease but as Hull would be under no obligation to sell the board could name its price. That price would be not less than the cost of a new home for Hull FC. How much would that be?

Any suggestion that the board could sell the lease, trouser the money and abandon the club is laughable and in doing so the directors would certainly be in breach of their duties under the Companies Act 2006.

RankPostsTeam
International Chairman37704No
Team
Selected
JoinedServiceReputation
May 200223 years
OnlineLast PostLast Page
Aug 2018Aug 2018LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Quote: Nobeerineasthull "

The council can sell the KC if it wants to.'"


It can?

From where do you deduce that?

Quote: Nobeerineasthull "What it cannot do is sell for less than it is worth. That would lead to an investigation by the District Auditor and potentially the councillors who made the decision having to pay surcharges to cover the loss.'"


See above

Quote: Nobeerineasthull "What is the stadium worth? It cost £46m to build. That figure does not include the value of the land on which it stands and the surrounding land.'"


See above

Quote: Nobeerineasthull "The Allams are said to be worth £180m. They have already invested £40m in Hull City. Could they afford to buy the stadium? It would mean putting over half of their total wealth into Hull City/the KC so probably not without borrowing the money, which would doubtless be secured against the stadium itself. '"


See above but as a caveat, what fantasy world do you live in where these deals are done without finance? The Allams would not be expected to turn up with a suitcase full of notes. I seriously doubt that they'd even be required to offer personal guarantees. I'd also be surprised if they funded the purchase of Hull City from their own wealth.

Quote: Nobeerineasthull "If the stadium is sold it does not affect Hull FC's lease. Yes they could try to buy out Hull's interest in the lease but as Hull would be under no obligation to sell the board could name its price. That price would be not less than the cost of a new home for Hull FC. How much would that be?'"


see my 1st reply

Quote: Nobeerineasthull "Any suggestion that the board could sell the lease, trouser the money and abandon the club is laughable and in doing so the directors would certainly be in breach of their duties under the Companies Act 2006.
'"


As above

RankPostsTeam
International Chairman37704No
Team
Selected
JoinedServiceReputation
May 200223 years
OnlineLast PostLast Page
Aug 2018Aug 2018LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Quote: jeffers#1 "can seriously see this happening. With the council having there budgets cut, i think they will see this as a no brainer. I hope i'm wrong though'"


And what would they do with the money?

Have you read the thread or are you just going by what the dailywail has to say?

RankPostsTeam
Player Coach3231No
Team
Selected
JoinedServiceReputation
Aug 200519 years
OnlineLast PostLast Page
Sep 2024Nov 2017LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Quote: cod'ead "I would imagine some very robust covenants are attached to the KC, to prevent a sale to a private concern. The money from Kingston Communications was only released for capital projects so I doubt the legality of now taking a profit and applying that to cover any shortfall in the revenue account.

Mind you, given the previous of the incumbent government & Cllr Minge, they'd flog anything, that stood still long enough, to anyone with a promise of dosh.'"


What do you [iknow[/i about the covenants attached to the KC as opposed to what you [iimagine[/i?

The fact that there [imay[/i be restrictions about what the council could do with the proceeds of sale would not prevent a sale itself.

RankPostsTeam
International Chairman37704No
Team
Selected
JoinedServiceReputation
May 200223 years
OnlineLast PostLast Page
Aug 2018Aug 2018LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Quote: Nobeerineasthull "What do you [iknow[/i about the covenants attached to the KC as opposed to what you [iimagine[/i?

The fact that there [imay[/i be restrictions about what the council could do with the proceeds of sale would not prevent a sale itself.'"


Time for bed sunshine, let the adults play now

RankPostsTeam
Player Coach446
JoinedServiceReputation
Jul 200915 years
OnlineLast PostLast Page
Dec 2017Nov 2017LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Would the council have a duty to sell to the highest bidder and put it on the open market to bring the best return for the residents of Hull?
Why should the Allems have a sole bid and would that be legal?
If the council are going to sell theres a lot of questions to be asked Will the Allems in five/six years time after losing money, getting bored of there project sell to any one with big bucks.

RankPostsTeam
Club Owner7665
JoinedServiceReputation
Oct 200321 years
OnlineLast PostLast Page
Nov 2024Jun 2024LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



What if the council see the sale of the KC as a way of funding a new stadium east of the city.

They are often criticised for what seems to be a favouring of Hull FC by building a stadium that houses them and Hull City, not a problem while HKR were in the lower division but now it looks like unfair treatment of the City's professional teams.

If the council sold the KC with assurances that both RL and football will be safe in their tenure they could than use some of that money to build another iconic stadium for HKR and in the process make the city of Hull the envy of many other cities accross the country.

RankPostsTeam
Club Owner16136
JoinedServiceReputation
Feb 200421 years
OnlineLast PostLast Page
Jul 2023Mar 2022LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Quote: The Clan "What if the council see the sale of the KC as a way of funding a new stadium east of the city.

They are often criticised for what seems to be a favouring of Hull FC by building a stadium that houses them and Hull City, not a problem while HKR were in the lower division but now it looks like unfair treatment of the City's professional teams.

If the council sold the KC with assurances that both RL and football will be safe in their tenure they could than use some of that money to build another iconic stadium for HKR and in the process make the city of Hull the envy of many other cities accross the country.'"


I think underwriting a loan to extend Craven Park is sufficient dont you?, and has often been pointed out, City & FC pay rent to use the stadium, so they've hardly been "given" it.

Not to mention that having 2 stadiums is hardly going to make Hull the envy of other cities

Also not to mention that HKR were offered tenancy at the KC and declined it.

And finally if, as some claim, the KC is going to be sold to pay of "debts" or even fund other shortfalls, do you really think building another stadium is going to be high on the list of priorities not withstanding the fact it would be political suicide?

RankPostsTeam
Club Owner22194
JoinedServiceReputation
Sep 200321 years
OnlineLast PostLast Page
Nov 2024Nov 2024LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Quote: We are pleased to reassure everybody connected with Hull FC that the continuing, productive relationship with the rugby league club as tenants of the stadium is very much part of the future plan. "Ehab reassured Hull FC, and their army of fans, that the rugby club's future at the KC Stadium is secure.

He said

rlhttps://www.thisishullandeastriding.co.uk/news/Allams-vision-city-forefront-sport/article-3082983-detail/article.htmlrl

RankPostsTeam
Player Coach426No
Team
Selected
JoinedServiceReputation
Jul 200618 years
OnlineLast PostLast Page
Dec 2018Dec 2018LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Quote: ComeOnYouUll "rlhttps://www.thisishullandeastriding.co.uk/news/Allams-vision-city-forefront-sport/article-3082983-detail/article.htmlrl'"


This was never in doubt, Hull FC will remain tenants for as long as they please. The only problem for Hull will be having 12,000 people sat in a 38,000 seater stadium. The atmosphere will be mute.

RankPostsTeam
International Star1201No
Team
Selected
JoinedServiceReputation
Sep 201014 years
OnlineLast PostLast Page
Jul 2011Apr 2011LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Quote: Nobeerineasthull "

Any suggestion that the board could sell the lease, trouser the money and abandon the club is laughable and in doing so the directors would certainly be in breach of their duties under the Companies Act 2006.'"

Which section? Cant be bothered to root through my books for it

RankPostsTeam
International Chairman37704No
Team
Selected
JoinedServiceReputation
May 200223 years
OnlineLast PostLast Page
Aug 2018Aug 2018LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED



Quote: Eric The Viking "This was never in doubt, Hull FC will remain tenants for as long as they please. The only problem for Hull will be having 12,000 people sat in a 38,000 seater stadium. The atmosphere will be mute.'"


At least we'll be dry and have a reasonable view of the pitch

RankPostsTeam
Moderator12647
JoinedServiceReputation
Jun 200717 years
OnlineLast PostLast Page
Nov 2024Nov 2024LINK
Milestone Posts
0
100
Milestone Years
0510 1520 2530
Location
Signature
TO BE FIXED

Moderator


Quote: rover49 "[sizeWHERE THE F'CK DID I SAY THAT THEY HAVE NOT PAID A COMMERCIAL RENT[/size 5.078125:10
RLFANS Recent Posts
FORUM
LAST
POST
TOPIC
POSTER
POSTS
Recent
Transfer Talk V5
Once were Lo
518
FORUM
LAST
VIEW
TOPIC
POSTER
POSTS
19s
DoR - New Coach - Investor & Adam - New signings
Theeaststand
4048
24s
Shopping list for 2025
HU8HFC
5588
27s
Fixtures
Hockley Bron
12
33s
ALL NEW 49ERS ERA LEEDS UTD THREAD
tad rhino
2611
34s
Film game
karetaker
5766
52s
BORED The Band Name Game
Boss Hog
63268
55s
Ground Improvements
phe13
198
1m
Opening Championship and League One Fixtures for 2025 Released
RLFANS News
1
1m
Salford
Smiffy27
59
1m
2025 Recruitment
Pyrah123
212
FORUM
NEW
TOPICS
TOPIC
POSTER
POSTS
TODAY
Shirt reveal coming soon
Khlav Kalash
2
TODAY
Opening Championship and League One Fixtures for 2025 Released
RLFANS News
1
TODAY
Getting a new side to gel
Wigan Bull
2
TODAY
Fixtures
Hockley Bron
12
TODAY
Writers required
H.G.S.A
1
TODAY
2025 Fixtures
Jemmo
1
NEWS ITEMS
VIEWS
POSTSONLINEREGISTRATIONSRECORD
19.65M 1,292 ↑1480,15614,103
LOGIN HERE
or REGISTER for more features!.

When you register you get access to the live match scores, live match chat and you can post in the discussions on the forums.
RLFANS Match Centre
 Thu 13th Feb 2025
     Mens Super League XXX-R1
20:00
Wigan
v
Leigh
 Fri 14th Feb 2025
     Mens Super League XXX-R1
20:00
Hull KR
v
Castleford
20:00
Catalans
v
Hull FC
 Sat 15th Feb 2025
     Mens Super League XXX-R1
15:00
Leeds
v
Wakefield
17:30
St.Helens
v
Salford
       Championship 2025-R1
18:00
Toulouse
v
Widnes
 Sun 16th Feb 2025
     Mens Super League XXX-R1
15:00
Huddersfield
v
Warrington
       Championship 2025-R1
15:00
Bradford
v
LondonB
15:00
Featherstone
v
Doncaster
15:00
Oldham
v
York
15:00
Sheffield
v
Halifax
15:00
Barrow
v
Hunslet
 Thu 20th Feb 2025
     Mens Super League XXX-R2
20:00
Wakefield
v
Hull KR
 Fri 21st Feb 2025
     Mens Super League XXX-R2
20:00
Warrington
v
Catalans
20:00
Hull FC
v
Wigan
 Sat 22nd Feb 2025
     Mens Super League XXX-R2
15:00
Salford
v
Leeds
20:00
Castleford
v
St.Helens
 Sun 23rd Feb 2025
     Mens Super League XXX-R2
14:30
Leigh
v
Huddersfield
       League One 2025-R1
15:00
Cornwall
v
Workington
15:00
Dewsbury
v
Crusaders
ALL SCORES PROVIDED BY RLFANS.COM (SETTINGS)
Matches on TV
Thu 13th Feb
SL
20:00
Wigan-Leigh
Fri 14th Feb
SL
20:00
Hull KR-Castleford
SL
20:00
Catalans-Hull FC
Sat 15th Feb
SL
15:00
Leeds-Wakefield
SL
17:30
St.Helens-Salford
Sun 16th Feb
SL
15:00
Huddersfield-Warrington
Thu 20th Feb
SL
20:00
Wakefield-Hull KR
Fri 21st Feb
SL
20:00
Warrington-Catalans
SL
20:00
Hull FC-Wigan
Sat 22nd Feb
SL
15:00
Salford-Leeds
SL
20:00
Castleford-St.Helens
Sun 23rd Feb
SL
14:30
Leigh-Huddersfield
Thu 6th Mar
SL
20:00
Hull FC-Leigh
Fri 7th Mar
SL
20:00
Castleford-Salford
SL
20:00
St.Helens-Hull KR
Sat 8th Mar
SL
17:30
Catalans-Leeds
Sun 9th Mar
SL
17:30
Warrington-Wakefield
SL
17:30
Wigan-Huddersfield
Thu 20th Mar
SL
20:00
Salford-Huddersfield
Fri 21st Mar
SL
20:00
St.Helens-Warrington
This is an inplay table and live positions can change.
Mens Betfred Super League XXVIII ROUND : 1
 PLDFADIFFPTS
Wigan 29 768 338 430 48
Hull KR 29 731 344 387 44
Warrington 29 769 351 418 42
Leigh 29 580 442 138 33
Salford 28 556 561 -5 32
St.Helens 28 618 411 207 30
 
Catalans 27 475 427 48 30
Leeds 27 530 488 42 28
Huddersfield 27 468 658 -190 20
Castleford 27 425 735 -310 15
Hull FC 27 328 894 -566 6
LondonB 27 317 916 -599 6
This is an inplay table and live positions can change.
Betfred Championship 2024 ROUND : 1
 PLDFADIFFPTS
Wakefield 27 1032 275 757 52
Toulouse 26 765 388 377 37
Bradford 28 723 420 303 36
York 29 695 501 194 32
Widnes 27 561 502 59 29
Featherstone 27 634 525 109 28
 
Sheffield 26 626 526 100 28
Doncaster 26 498 619 -121 25
Halifax 26 509 650 -141 22
Batley 26 422 591 -169 22
Swinton 28 484 676 -192 20
Barrow 25 442 720 -278 19
Whitehaven 25 437 826 -389 18
Dewsbury 27 348 879 -531 4
Hunslet 1 6 10 -4 0
RLFANS Recent Posts
FORUM
LAST
POST
TOPIC
POSTER
POSTS
Recent
Transfer Talk V5
Once were Lo
518
FORUM
LAST
VIEW
TOPIC
POSTER
POSTS
19s
DoR - New Coach - Investor & Adam - New signings
Theeaststand
4048
24s
Shopping list for 2025
HU8HFC
5588
27s
Fixtures
Hockley Bron
12
33s
ALL NEW 49ERS ERA LEEDS UTD THREAD
tad rhino
2611
34s
Film game
karetaker
5766
52s
BORED The Band Name Game
Boss Hog
63268
55s
Ground Improvements
phe13
198
1m
Opening Championship and League One Fixtures for 2025 Released
RLFANS News
1
1m
Salford
Smiffy27
59
1m
2025 Recruitment
Pyrah123
212
FORUM
NEW
TOPICS
TOPIC
POSTER
POSTS
TODAY
Shirt reveal coming soon
Khlav Kalash
2
TODAY
Opening Championship and League One Fixtures for 2025 Released
RLFANS News
1
TODAY
Getting a new side to gel
Wigan Bull
2
TODAY
Fixtures
Hockley Bron
12
TODAY
Writers required
H.G.S.A
1
TODAY
2025 Fixtures
Jemmo
1
NEWS ITEMS
VIEWS


Visit the RLFANS.COM SHOP
for more merchandise!