With Hull City holding an emergency board meeting today, chairman Adam Pearson has expressed confidence that the effectively relegated club’s debts can be managed. He is hopeful that a CVA can be agreed with creditors, although 75 per cent of them would have to sign up and there would still be a ten points deduction next season. Of the £36m debt, £10m is classified as football debt with the rest owed to banks.
With Hull City holding an emergency board meeting today, chairman Adam Pearson has expressed confidence that the effectively relegated club’s debts can be managed. He is hopeful that a CVA can be agreed with creditors, although 75 per cent of them would have to sign up and there would still be a ten points deduction next season. Of the £36m debt, £10m is classified as football debt with the rest owed to banks.
Let’s hope for the sake of Hull fans that his confidence is not misplaced, although we have seen a few examples of whistling in the dark recently.