You're an utter loon. The council bought the stadium for the community and charged the SMC with its guardianship. At the end of the SMC contract the council will still have an asset, including the land. If the SMC were making a massive profit to return to the council, they would be ripping off its tenants, charging them over the odds compared to the costs of the KC stewardship. How many concerts have there been exactly? Do you think the costs of staging a concert are immaterial? The stadium was bought, like most public assets, as an investment for the benefit of the community and in this case through an exceptional windfall. The fact is that the costs of its upkeep are being met at no cost to the taxpayer but entirely at the expense of Hull City and Hull FC. We're in effect servicing a public asset sat on the council's balance sheet on your behalf. As a taxpayer you should be thanking us for looking after your property and providing you with a modest return. What "return" as a tax payer are you getting from the double glazing?

Can you give examples of ANY other KUHCC capital project that has delivered what could even remotely be considered as a commercial return on investment?



Unlike most, if not all, other KUHCC capital projects, the KC is offering a return, however modest, rather than a charge on the revenue account

I agree with everything that you say well put !

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

Councils up and down the country are having their budges cut, doesn't mean they will be allowed to sell-off multi million pound assets.

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.

It can?



From where do you deduce that?







See above







See above







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.







see my 1st reply







As above

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?

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

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.

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.