... the trouble is, "something similar" appeared to work ok until Mr Allam took over.

This is what people (well, me anyway) can't understand.

That is because there was goodwill on all sides. That has gone as was plainly obvious when the Allams evicted the sports groups from the Airco. The Allams do what is best for them as Ehab said in his interview with David Burns. If the upkeep of the KC is costing them millions each year the only way they can get out of that is by the Council revoking the lease and renegotiating a new arrangement for Hull City AFC's use of the KC. The Council become responsible for the repairs and Hull City just pay a fair rent.

Quote Obadiah="Obadiah"That is because there was goodwill on all sides. That has gone as was plainly obvious when the Allams evicted the sports groups from the Airco. The Allams do what is best for them as Ehab said in his interview with David Burns. If the upkeep of the KC is costing them millions each year the only way they can get out of that is by the Council revoking the lease and renegotiating a new arrangement for Hull City AFC's use of the KC. The Council become responsible for the repairs and Hull City just pay a fair rent.'" again LIES, is your email address a.a@deluded.co.uk?

Quote Obadiah="Obadiah"That is because there was goodwill on all sides. That has gone as was plainly obvious when the Allams evicted the sports groups from the Airco. The Allams do what is best for them as Ehab said in his interview with David Burns. If the upkeep of the KC is costing them millions each year the only way they can get out of that is by the Council revoking the lease and renegotiating a new arrangement for Hull City AFC's use of the KC. The Council become responsible for the repairs and Hull City just pay a fair rent.'" again LIES, is your email address a.a@deluded.co.uk?

Quote HullFC_1865="HullFC_1865"again LIES, is your email address a.a@deluded.co.uk?'" No.

Quote HullFC_1865="HullFC_1865"again LIES, is your email address a.a@deluded.co.uk?'" No.

How would you feel about the council taking on that level of risk?





In all seriousness it would be potentially politically tricky.



Obadiah - if the Allams wanted shot of responsibility for the stadium, wouldn't simply winding up the SMC achieve the same end?

The lease would be an asset and could be sold. Hull City AFC's agreement with the SMC would be void and they'd have to negotiate a new agreement with the new leaseholder. Far safer to let the Council take it back.

Ooh, that is an interesting wrinkle.

Maybe new SMC owners would let city do the £10 tickets the nutter promised

Is the lease still securing a debt with the RBS?

you clearly know nothing about Public Sector finance, crown expenditure, covenants, grant funding and the like.

Martin?

I think RBS have a floating charge over the assets (lease) of the SMC. The loan was made to the holding company who don't hold the lease. Although as a result of Allam contesting the legality of the loan there is a new agreement to repay over three years. I haven't checked to see if there is any additional security as a result.