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Hull finances 'a real concern'

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Submitted by WG on Sat, 18/09/2010 - 10:21

Hull City owner Russell Bartlett is seeking new investment in the club, but has ruled out a takeover.  Talks were held earlier in the year with father and son duo Assem and Ehab Allem who are sponsors and vice-presidents at the club.


However, they were interested in taking control, rather than a minority stake.   They have issued a statement in which they say that the finances of the club 'are a matter of real concern'.


The club's finances have stabilised with a new bank loan and a reduction in the wage bill from £38m to £15m.  The club has also been able to receive its first parachute payments after negotiating agreements with clubs who were owed transfer payments.

Related Clubs: 
Hull City AFC Ltd

Hull's financial state

Submitted by Anonymous on Sat, 18/09/2010 - 11:57.

I've now seen the statement issued by the Allam's and the 'a matter of real concern' part that you've pulled out is rather misleading, as it relates to the obvious concern over the consequences of relegation,the full quote is :

"It is no secret that following the football club's fall out of the
premiership its financial state has become a matter of real concern.
When we met with Mr Bartlett the discussions centred on the case for an
investment only partner.

Hull's financies

Submitted by Anonymous on Sat, 18/09/2010 - 11:13.

Where have the Allam's issued a statement about financies being 'a matter of real concern'? Did you just completely make that up?

Hull's financies have been sorted, the Allam's have been discussing the possibilities of investing in the club, but have not tried to buy the club outright, this was just a speculative story on local radio that has been dismissed by the club.