Just read the not606 thread. The City fans still haven't grasped the fact that the 50 million that was "pumped into" the club was a loan. And they call us thick!

i'm not sure how Hull Fc's position can become untenable?

My apologies after reading nearly 100 pages over the last few days I have just come in and read your first post jumped in feet first - my anger at all this was taken out on you

My response on the not 606 thread

'Unlike some of the Hull City supporting ill educated clowns that are posting on this thread. The great saviour that is Allam has borrowed 50 million quid which is a millstone around your clubs neck and you need to get promoted to premiership to help remove it. Allam only wants one thing, the KC stadium and the surrounding land, and will stoop to whatever level to get it. If the Hull City Council came out with a statement tomorrow telling him they will never ever sell it to him, watch the reaction from Allam, and watch out for your club'

Apologies if this has been brought up, but there's too many posts here to read them all...

Where's Adam Pearson while all this is happening?

Some sort of comment / statement from him might have calmed things down before it escalated. He doesn't seem to want to communicate with the media either, at least the Allams have come forward with their side of events.

If I was a Hull fan I'd have expected to hear something from him after Fridays postponement & I'd certainly have liked him to hear him express his commitment to the club after the Leeds Utd story last week.

So where is he? Who's running your ship?

Quote: frepneyboy "I do recall Bartlett obtaining a mortgage against Citys user agreement with Barclays for c£3.5 mill'" I wonder if this is the same monies (noted as being written off) as mentioned in this link. See the section headed HCAFC Accounts, para. 3. This article also includes a brief description of the business relationship between Allamhouse Limited and Hull City AFC (Tigers) Limited, as it stood at that time. This is a good illustration of how money/assets can be moved between companies within a group, which is a bit like taking money from one pocket and putting it in another. www.ambernectar.org/blog/2012/01 ... ervations/ Although the sum there is £2.8M owed to Russell Bartlett, there could be interest added to this. The interesting part is "... change of ownership". Compare this with Ehab Allam's statement - part 2(d) which mentions a "...£3.5M mortgage commitment ... purchase of the business in 2010".

Quote: frepneyboy "I do recall Bartlett obtaining a mortgage against Citys user agreement with Barclays for c£3.5 mill'" I wonder if this is the same monies (noted as being written off) as mentioned in this link. See the section headed HCAFC Accounts, para. 3. This article also includes a brief description of the business relationship between Allamhouse Limited and Hull City AFC (Tigers) Limited, as it stood at that time. This is a good illustration of how money/assets can be moved between companies within a group, which is a bit like taking money from one pocket and putting it in another. www.ambernectar.org/blog/2012/01 ... ervations/ Although the sum there is £2.8M owed to Russell Bartlett, there could be interest added to this. The interesting part is "... change of ownership". Compare this with Ehab Allam's statement - part 2(d) which mentions a "...£3.5M mortgage commitment ... purchase of the business in 2010".

If City don`t go up this year they will be in financial meltdown.
Allam is banking on it big time.

According to the not606 thread, Hull City are fine as the 50 million is a debt against The Allams and Hull City are not liable.

If you can't be a[ir[/ised reading, I certainly can't be a[ir[/ised informing you

just got a quick mention on talk sport about the current situation and open for calls on it. If anyone who wrote one of them letters could call up and explain how bad the situation is and is not just about the odd photo here and there might open peoples eyes more?

He attempts to come across as ‘generous’ to the local community, because he has an agenda.

He believes that the local community vote can be bought, and many in the local community have been bought, and he has their vote.

rlThis gives a good insight into how the Allamhouse parent company injected £43M into Hull Cityrl to, it would appear, transfer their net debt from other creditors to the parent company and to "buy" the club from Bartlett. I too wonder if the £2.8M loan to Bartlett is something to do with this £3.5M mortgage taken out during Bartlett's reign.

As others have said several questions are immediately apparent.

As City don't own the stadium, how could Bartlett procure a mortgage? Against other assets? If this debt was transferred to the SMC on the City buyout, why? How can the SMC take on the debt of one of their tenants? Either way, Hull FC have nothing to do with this mortgage and Allam knew what he was taking on when he bought City. His problem that he has chosen to make the SMC's?
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Was the Mortgage an SMC mortgage. Taken out for what and secured against what?

What exactly are the £280,000 "rugby related costs"? As our rent covers matchday costs and some maintenance costs, could it be the removal cost of the pictures ? Or what? Without more information, the statement could mean anything. Spurious at the worst.

The agreement changes in 2005 and 2006? Again, meaningless with no meat on the bones.

And "2(f) - The adoption of new accounting procedures since 2010 has provided much greater transparency which has revealed a truer reflection of the company's financial position? " WTF?

Tomorrows hdm should be very interesting. News on how the smc subsidises Hull fc and news of an astonishing ticket buy up agreement. Crikey.

Agreement. In other words, they agreed to it. Whatever "it" is.