The completion of the takeover of Hull City by the Allams has been greeted with relief by Tigers fans. The club has been through a difficult and uncertain period and the delay was beginning to worry fans. However, the finances of football clubs are rarely straightforward, lengthening the process of due diligence.
The completion of the takeover of Hull City by the Allams has been greeted with relief by Tigers fans. The club has been through a difficult and uncertain period and the delay was beginning to worry fans. However, the finances of football clubs are rarely straightforward, lengthening the process of due diligence.
The outstanding tax bill of £833,000 will now be paid off. Assurances about that given by the Allams prevented the club being served with a winding up order by Revenue and Customs. The club’s debts of £21m will be paid off at a rate of £600,000 a month and money will be available during the January transfer window.
Tigers fans can look forward to the new year with some optimism. Although they are 19th, Hull are only ten points away from a play off place.