| FORUMS > Hull KR > Rovers 2008 Accounts |
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| Rank | Posts | Team |
| Player Coach | 5139 | No
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| Sep 2006 | 18 years | |
| Online | Last Post | Last Page |
| Dec 2014 | May 2013 | LINK |
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27608.jpg
Motto of the week -
It is the way of the weak to secretly bleat to those in authority rather than fight their own battles.:27608.jpg |
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| Quote: Big Dave T "I dont have any councillor mates thanks, i like to have trustworthy mates. ![]()
It was you making unfounded assertions that Rovers paid a pitiful rent to HCC. Where's your proof?? The consortium you refer to at the time was called Gaingroup and that is who Rovers pay their rent to iirc.
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| Rank | Posts | Team |
| Club Owner | 29160 | No
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| Mar 2004 | 21 years | |
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| Dec 2012 | Jul 2011 | LINK |
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| Quote: Gordon Gekko "It was you making unfounded assertions that Rovers paid a pitiful rent to HCC. Where's your proof?? The consortium you refer to at the time was called Gaingroup and that is who Rovers pay their rent to iirc.'"
and are they still involved or is the stadium now 100% owned by the council? How would i have proof of something that ive never seen written down? I've had it on very good authority that it's the case. Can't say much more than that can i. Was just wondering where your proof was that it's not the case? 
Forget Rovers pitiful rent anyway, i'm more interested to hear more about the ownership of Craven Park as it may be something i wasn't aware of.  |
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| Rank | Posts | Team |
| Club Owner | 29160 | No
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| Mar 2004 | 21 years | |
| Online | Last Post | Last Page |
| Dec 2012 | Jul 2011 | LINK |
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Just found this:
09:30 - 19 June 2003
Hull KR's financial troubles started to make themselves felt back in 1997 and for almost three years accountants Price Waterhouse Coopers administered the running of the club. Towards the end of that period a consortium offered £500,000 for the club, and even that was shrouded in controversy as David Lloyd, the Hull Sharks owner, claimed his higher bid had been rejected.
Be that as it may, events reached a stage where the City Council and the Gaingroup (now called Kingston Community Development Ltd), the private consortium mentioned, agreed to purchase Craven Park from the adminstrators for £650,000.
The council paid £450,000 towards the cost of the ground and Gaingroup a further £200,000. The council leased their share of the ground to Gaingroup on a `250-year` lease.
It was then leased back to Hull KR for £30,000 a year plus vat on a `20-year` plan.
Former Hull City boss Don Robinson took over as chairman and a new board of directors was appointed. It was also agreed the consortium would provide a £100,000 cash injection for stadium and ground improvements.
That deal ended 12 months of uncertainty and speculation for the historic club.
Once agreement was reached it was stated the club would remain under close financial scrutiny for the next five years and press on with a Creditors Voluntary Agreement (CVA) to pay off £1.1m debts.
Since the initial agreement Don Robinson has left the board of Rovers when he was succeeded by Wayne Smith who has in turn been replaced by Colin McNicol.
If the RFL look at what clubs in the division owe or have borrowed I don't think they will let anybody go beyond 150k
taken from www.totalrl.com/lofiversion/index.php/t3702.html |
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Just found this:
09:30 - 19 June 2003
Hull KR's financial troubles started to make themselves felt back in 1997 and for almost three years accountants Price Waterhouse Coopers administered the running of the club. Towards the end of that period a consortium offered £500,000 for the club, and even that was shrouded in controversy as David Lloyd, the Hull Sharks owner, claimed his higher bid had been rejected.
Be that as it may, events reached a stage where the City Council and the Gaingroup (now called Kingston Community Development Ltd), the private consortium mentioned, agreed to purchase Craven Park from the adminstrators for £650,000.
The council paid £450,000 towards the cost of the ground and Gaingroup a further £200,000. The council leased their share of the ground to Gaingroup on a `250-year` lease.
It was then leased back to Hull KR for £30,000 a year plus vat on a `20-year` plan.
Former Hull City boss Don Robinson took over as chairman and a new board of directors was appointed. It was also agreed the consortium would provide a £100,000 cash injection for stadium and ground improvements.
That deal ended 12 months of uncertainty and speculation for the historic club.
Once agreement was reached it was stated the club would remain under close financial scrutiny for the next five years and press on with a Creditors Voluntary Agreement (CVA) to pay off £1.1m debts.
Since the initial agreement Don Robinson has left the board of Rovers when he was succeeded by Wayne Smith who has in turn been replaced by Colin McNicol.
If the RFL look at what clubs in the division owe or have borrowed I don't think they will let anybody go beyond 150k
taken from www.totalrl.com/lofiversion/index.php/t3702.html | |
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| Rank | Posts | Team |
| Player Coach | 5139 | No
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| Joined | Service | Reputation |
| Sep 2006 | 18 years | |
| Online | Last Post | Last Page |
| Dec 2014 | May 2013 | LINK |
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27608.jpg
Motto of the week -
It is the way of the weak to secretly bleat to those in authority rather than fight their own battles.:27608.jpg |
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| Quote: Big Dave T "and are they still involved or is the stadium now 100% owned by the council? How would i have proof of something that ive never seen written down? I've had it on very good authority that it's the case. Can't say much more than that can i. Was just wondering where your proof was that it's not the case? ![]()
Not that old chestnut 
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| Rank | Posts | Team |
| Club Owner | 29160 | No
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| Mar 2004 | 21 years | |
| Online | Last Post | Last Page |
| Dec 2012 | Jul 2011 | LINK |
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| Quote: Gordon Gekko "Not that old chestnut ![]()
Now i refer you back to my point above this one. £30k per year rent is pitiful.
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| Rank | Posts | Team |
| Player Coach | 5139 | No
Team
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| Joined | Service | Reputation |
| Sep 2006 | 18 years | |
| Online | Last Post | Last Page |
| Dec 2014 | May 2013 | LINK |
| Milestone Posts |
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27608.jpg
Motto of the week -
It is the way of the weak to secretly bleat to those in authority rather than fight their own battles.:27608.jpg |
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| Quote: Big Dave T "Just found this:
09:30 - 19 June 2003
Hull KR's financial troubles started to make themselves felt back in 1997 and for almost three years accountants Price Waterhouse Coopers administered the running of the club. Towards the end of that period a consortium offered £500,000 for the club, and even that was shrouded in controversy as David Lloyd, the Hull Sharks owner, claimed his higher bid had been rejected.
Be that as it may, events reached a stage where the City Council and the Gaingroup (now called Kingston Community Development Ltd), the private consortium mentioned, agreed to purchase Craven Park from the adminstrators for £650,000.
The council paid £450,000 towards the cost of the ground and Gaingroup a further £200,000. The council leased their share of the ground to Gaingroup on a `250-year` lease.
It was then leased back to Hull KR for £30,000 a year plus vat on a `20-year` plan.
Former Hull City boss Don Robinson took over as chairman and a new board of directors was appointed. It was also agreed the consortium would provide a £100,000 cash injection for stadium and ground improvements.
That deal ended 12 months of uncertainty and speculation for the historic club.
Once agreement was reached it was stated the club would remain under close financial scrutiny for the next five years and press on with a Creditors Voluntary Agreement (CVA) to pay off £1.1m debts.
Since the initial agreement Don Robinson has left the board of Rovers when he was succeeded by Wayne Smith who has in turn been replaced by Colin McNicol.
If the RFL look at what clubs in the division owe or have borrowed I don't think they will let anybody go beyond 150k
taken from
So the council get a return on their 'investment', KCD get a return on their 'investment' and Rovers get a fixed price rental agreement for 20 years.
Everyone's a winner
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| Rank | Posts | Team |
| Player Coach | 5139 | No
Team
Selected |
| Joined | Service | Reputation |
| Sep 2006 | 18 years | |
| Online | Last Post | Last Page |
| Dec 2014 | May 2013 | LINK |
| Milestone Posts |
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| Milestone Years |
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| Location |
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| Signature |
27608.jpg
Motto of the week -
It is the way of the weak to secretly bleat to those in authority rather than fight their own battles.:27608.jpg |
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| Quote: Big Dave T "Now i refer you back to my point above this one. £30k per year rent is pitiful. ![]()
Personally i'd say it was too high for what is a pretty dismal stadium with fairly poor facilities.
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| Rank | Posts | Team |
| Club Owner | 29160 | No
Team
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| Joined | Service | Reputation |
| Mar 2004 | 21 years | |
| Online | Last Post | Last Page |
| Dec 2012 | Jul 2011 | LINK |
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| Quote: Gordon Gekko "So the council get a return on their 'investment', KCD get a return on their 'investment' and Rovers get a fixed price rental agreement for 20 years.
Everyone's a winner ![]()
At a pitiful rate. That was my point i think. (ive kind of lost track of what my point was actually going to be)
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| Rank | Posts | Team |
| Club Owner | 29160 | No
Team
Selected |
| Joined | Service | Reputation |
| Mar 2004 | 21 years | |
| Online | Last Post | Last Page |
| Dec 2012 | Jul 2011 | LINK |
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| Quote: Gordon Gekko "Personally i'd say it was too high for what is a pretty dismal stadium with fairly poor facilities.'"
Personally i'm also trying to work out how a £650k investment and then charging £30k per year for 20 years is good business for the owners of craven park, by my maths that will only get them £600k back in 20 years and still be down not even counting interest.
Surely this backs up the pitiful rent and the lenience shown towards KR by the miffed council officials?  |
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| Rank | Posts | Team |
| Player Coach | 5139 | No
Team
Selected |
| Joined | Service | Reputation |
| Sep 2006 | 18 years | |
| Online | Last Post | Last Page |
| Dec 2014 | May 2013 | LINK |
| Milestone Posts |
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| Milestone Years |
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27608.jpg
Motto of the week -
It is the way of the weak to secretly bleat to those in authority rather than fight their own battles.:27608.jpg |
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| Quote: Big Dave T "Personally i'm also trying to work out how a £650k investment and then charging £30k per year for 20 years is good business for the owners of craven park, by my maths that will only get them £600k back in 20 years and still be down not even counting interest.
Surely this backs up the pitiful rent and the lenience shown towards KR by the miffed council officials? ![]()
Do your sums again their investment was only £300k
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| Rank | Posts | Team |
| Club Owner | 29160 | No
Team
Selected |
| Joined | Service | Reputation |
| Mar 2004 | 21 years | |
| Online | Last Post | Last Page |
| Dec 2012 | Jul 2011 | LINK |
| Milestone Posts |
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| Quote: Gordon Gekko "Do your sums again their investment was only £300k ![]()
Says above the council put in 450k and gaingroup put in 200k. Hows that 300k?
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| Rank | Posts | Team |
| Player Coach | 5139 | No
Team
Selected |
| Joined | Service | Reputation |
| Sep 2006 | 18 years | |
| Online | Last Post | Last Page |
| Dec 2014 | May 2013 | LINK |
| Milestone Posts |
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| Milestone Years |
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| Location |
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| Signature |
27608.jpg
Motto of the week -
It is the way of the weak to secretly bleat to those in authority rather than fight their own battles.:27608.jpg |
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| Quote: Big Dave T "Says above the council put in 450k and gaingroup put in 200k. Hows that 300k?'"
Rovers landlords paid £200k plus £100k invested in ground improvements. |
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| Rank | Posts | Team |
| Club Owner | 29160 | No
Team
Selected |
| Joined | Service | Reputation |
| Mar 2004 | 21 years | |
| Online | Last Post | Last Page |
| Dec 2012 | Jul 2011 | LINK |
| Milestone Posts |
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Quote: Gordon Gekko "Rovers landlords paid £200k plus £100k invested in ground improvements.'"
Edit, ive re-read what youve said.
Rovers landlords gain group put in 200k towards buying Craven park, i agree. Hull City council also put in 450k and then leased their share back to gaingroup for rent. This meant that gain group were and are effecitively paying off 650k. They also invested 100k for ground improvements.
Whatever happens the sale of craven park was £650k, the return on that is 30k per annum which means it's a pitiful rent.
Oh and i found this.
www.independent.co.uk/sport/gene ... 17196.html |
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Quote: Gordon Gekko "Rovers landlords paid £200k plus £100k invested in ground improvements.'"
Edit, ive re-read what youve said.
Rovers landlords gain group put in 200k towards buying Craven park, i agree. Hull City council also put in 450k and then leased their share back to gaingroup for rent. This meant that gain group were and are effecitively paying off 650k. They also invested 100k for ground improvements.
Whatever happens the sale of craven park was £650k, the return on that is 30k per annum which means it's a pitiful rent.
Oh and i found this.
www.independent.co.uk/sport/gene ... 17196.html | |
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| Rank | Posts | Team |
| Player Coach | 5139 | No
Team
Selected |
| Joined | Service | Reputation |
| Sep 2006 | 18 years | |
| Online | Last Post | Last Page |
| Dec 2014 | May 2013 | LINK |
| Milestone Posts |
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| Milestone Years |
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| Location |
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| Signature |
27608.jpg
Motto of the week -
It is the way of the weak to secretly bleat to those in authority rather than fight their own battles.:27608.jpg |
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| Quote: Big Dave T "So are you saying that Rovers sold Craven Park for 200k and not the 650k reported?'"
No i'm saying the £30k rent Rovers pay goes to their landlords. Their landlords are not HCC. |
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| Rank | Posts | Team |
| Club Owner | 29160 | No
Team
Selected |
| Joined | Service | Reputation |
| Mar 2004 | 21 years | |
| Online | Last Post | Last Page |
| Dec 2012 | Jul 2011 | LINK |
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| Quote: Gordon Gekko "No i'm saying the £30k rent Rovers pay goes to their landlords. Their landlords are not HCC.'"
See my point above. The 30k goes to Rovers landlords, who then have their own rent to pay to HCC for the share that HCC have leased back to the landlords. 30k does not cover the borrowing so is therefore very favourable for rovers. |
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