So, by "slipped in on the blindside" did you really mean "he clearly stated in his press release" "Hull FC has one major financial challenge to overcome from what has been a very well run era over the last 10 years. That challenge is the legacy of EBT payments to players which was prohibited by changes in government legislation in late 2010.This has left the club with a very significant potential tax liability which I will have to examine in detail over the coming months and find a solution for."[/i

We apparently, unlike other SL clubs have no issues over image rights. We have also, during most of that 10 year period managed to show a net profit (and before you start, that has absolutely nothing to do with capitalising players). The rules governing EBT have changed over the years and unless Hull FC have been found to evade taxation under prevailing rules, it's highly unlikely that HMRC would make a credible case for retrospective action.

I'm quite comfortable with knowing that Adam Pearson is first & foremost a businessman and would not have even considered entering into a takeover without an appreciation of worse-case scenario regarding potential HMRC liabilities.

How are you club's debts racking up at the moment?

Ok then, ahemm "Darth". {S}

Maybe, but he still has to:
1. Persuade KUHCC to sell him the KC
2. get City back into the Premiership.

I think Pearson will want us all to get on but that is stupid. Rovers will never get on with Hull FC or Hull FC with Rovers. I dont care what happens over there. Pearson is a known lurker, waiting for a chance to make a profit. Paying off £2.75 million worth of debts is not an investment he will have done to make his money back through rugby, so the motive is very much linked with football. feel its the begining of the end of FC at the KC.

I'm loving this. Any more negativety anyone?

Do you need some foil for that crack?

Says a fan whose chairman is an ambulance chaser

Interesting times at the KC. Adam Pearson a man who admits he seldom attends rugby matches, even though he has had a free seat at the kc for several years, has now purchased Hull FC. Reading the other forum he is seen as the saviour but this will not happen over night and will the fans accept it may take 2 or 3 seasons to get there. He has no rugby experience or contacts ( like the previous owners) and will have to rely on those around him. The salary cap will tie his hands and with no realistic chances to make money one wonders what his motives are. If he was buying Rovers I would be worried, lets face it I was happy to get a million off the Allams, Hull fans thought we where being bought, now the boot is on the other foot I think unless the council gives the KC to the Allams they will be playing at Melton.

I'm too busy to read the rest of the thread but I've always liked Adam Pearson and I can see his take over being great for FC because he will sack Agar at the first opportunity and then they may get a top class coach.

However after hearing about James Rule's alleged non-attendance of a certain meeting with the Allams and Neil Hudgell, I doubt everything will be plane sailing further down the track for the "synergy between the three main sporting clubs" Adam Pearson is hoping for as long as James Rule is involved in FC.

When all's said and done though, SL is fast becoming more competitive each year and eventually it will be like the NRL where as long as you spend up to the full cap, you have a chance of winning the competition.

He's not and we aren't



What have you lot been smoking in East Hull?

Adam Pearson has bought out the previous shareholders. That's Adam Pearson that's bought them out, not Adam Pearson on behalf of Assem Allam. How do you make the fantastic leap to "they will be playing at Melton"? We, alongside our co-tenants of the KC, will not be playing anywhere other than the KC for the foreseeable future.

So is this why he got the club so cheap cos they owe huge amounts of tax

I think this has run its course.


R.B.A