I’m surprised at the comment by Mr Pearson that he was “shocked by the state of the club's finances since taking over” Someone contacted the Radio Humberside programme Sports talk last year to ask guest presenter Pete Smurthwaite if he would be prepared to buy the club his reply was something along the lines of “not after seeing the books”. On the same programme at the time of Pearson’s purchase of the club Dave Burns stated he got it cheap because of a large outstanding tax bill
Joined: Nov 04 2008 Posts: 4381 Location: if only you knew,you'd be amazed
jacko1 wrote:Don't think this is a surprise to anyone really low crowds will have hit the club, But as Pearson says lack of investment over a period of time in the long run will lead to losses.
Actually looking on the bright side of this it means he wont suffer poor performances and will ensure Gentle is actually doing the job we expect him too. just pleased too hear he's still on about further investment, which as others have pointed out shows he's here for the long run not short term..
Took no prisoners with city neither,Brian Little,Jan Molby,Phil Parkinson.If they weren't doing the business they were on their bikes out of hull.
For me once again this just shows at last we have the right man for the job.
Everytime I hear from Adam Pearson I get the feeling of there is a man telling me the whole truth, we might not like it but this is how it is. I only see this news as an extention of the old board. We all knew what they were like but we choose to ignore what we didnt like but then again in life who doesn't.
The club is being run in a professional manner, he is investing now from the off and has spared no expense in making sure we have the best facilities with the best equipment for the players to prepare in. Changes from top to bottom in the coaching staff and hopefully the way we play.
For me all this just doesnt seem bad news it's just shows me just how right the club are doing it now and that can only rub off on the players, they see the best they want to be the best. So it doesnt sound good for a few months but if this is what I have to put up with whilst he gets the club back to where I want it to be then so be it.
In Adam Pearson I trust, we are climbing up that mountain and I cannot wait until we reach the top.
Joined: Sep 01 2005 Posts: 4033 Location: the peoples republic of West Hull
Punos wrote:For me once again this just shows at last we have the right man for the job.
Everytime I hear from Adam Pearson I get the feeling of there is a man telling me the whole truth, we might not like it but this is how it is. I only see this news as an extention of the old board. We all knew what they were like but we choose to ignore what we didnt like but then again in life who doesn't.
The club is being run in a professional manner, he is investing now from the off and has spared no expense in making sure we have the best facilities with the best equipment for the players to prepare in. Changes from top to bottom in the coaching staff and hopefully the way we play.
For me all this just doesnt seem bad news it's just shows me just how right the club are doing it now and that can only rub off on the players, they see the best they want to be the best. So it doesnt sound good for a few months but if this is what I have to put up with whilst he gets the club back to where I want it to be then so be it.
In Adam Pearson I trust, we are climbing up that mountain and I cannot wait until we reach the top.
Joined: Jan 30 2004 Posts: 8161 Location: Never never land away with the fairies
Not a world exclusive really, pretty much just confirmation of what most fans already knew that the club was only making a profit by not spending much of the incomes. Much rather have Pearson being honest with the fans than the last lot who thought we were mugs and would swallow any old tosh.
Think the shock from Pearson is not so much about the loss (as think he already knew this) but the serious lack of investment within the club. Still rather be where we are now than last season as I am confident that Pearson can move this club forward and bring success and sustain it at the top.
I really enjoy long walks especially when they are taken by people I don't like!
Joined: Nov 04 2008 Posts: 4381 Location: if only you knew,you'd be amazed
Paul T - HKR wrote:Whether said tongue-in-cheek or not, Sadofsky's did 'qualify' FCs financial statements and the reasons for this will have been investigated by APs advisers (one would have thought).
I have to say I dont like the way AP is spinning FCs losses; on face value it suggests he was kept in the dark about them. If he was, then he isn't the astute businessman I thought he was. Surely APs advisers scrutinised the books going back a minimum of 3 yrs, and been privvy to the latest trading estimates (monthly accounts, budgets, cash flows etc) at the time of buying the club. APs advisers will have highlighted the downward curve in gate receipts and other revenues, and conducted a detailed analysis of expenditure. AP will have been well aware of the loss situation.
Plus, a proportion of the losses will be of his own making, a product of his internal review which will probably impact more in the current financial period ie settlements re Agar, Obst, Rule and other staff unless he has a case to claw them back into the 2011 financial statements. Plus he has appointed Mcrea, Gentle, additional coaching staff, and admin staff which will all mount up. Add to this the investment in the new training facilities and the day to day running costs (which the old regime kept on a shoe string) you can see the base costs AP is talking about spiralling in the short term. Finally, AP has stated he is committed to investing up to the SC limit and in youth development. In other words, the investment (expenditure) of the new regime will mean FC looking at another financial loss for 2012 and beyond, and probably a cash injection from AP to meet them.
On a broader issue, I wonder why AP feels it necessary to keep making a statement about clearing FCs liabilities, and now how he will be underwriting FCs losses. Is this the Allam effect? The Allam's love to bang the drum and hail themselves as Hull City's saviours. Its well documented AP isn't an ardent rugby league supporter, and because of this simple yet important observaton, I wonder even more now about the motive behind his buy-out of FC.
When he took over he announced via the HDM that the club would announce a loss,along with confirmation of the tax bill.I wonder if rovers have any outstanding HMRC issues too
Joined: Nov 04 2008 Posts: 4381 Location: if only you knew,you'd be amazed
I still get the feeling Peter Wilkinson is the financial muscle behind things.Pearson was confirmed as city's new owner back in the boothferry days before it came out that wilkinson was his silent partner.Wilkinson hates the limelight but has the wealth,and maybe he is getting bored counting his millions on his ryedale estate?
Punos wrote:For me once again this just shows at last we have the right man for the job.
Everytime I hear from Adam Pearson I get the feeling of there is a man telling me the whole truth, we might not like it but this is how it is. I only see this news as an extention of the old board. We all knew what they were like but we choose to ignore what we didnt like but then again in life who doesn't.
The club is being run in a professional manner, he is investing now from the off and has spared no expense in making sure we have the best facilities with the best equipment for the players to prepare in. Changes from top to bottom in the coaching staff and hopefully the way we play.
For me all this just doesnt seem bad news it's just shows me just how right the club are doing it now and that can only rub off on the players, they see the best they want to be the best. So it doesnt sound good for a few months but if this is what I have to put up with whilst he gets the club back to where I want it to be then so be it.
In Adam Pearson I trust, we are climbing up that mountain and I cannot wait until we reach the top.
Great post!!
With any organisation the culture come from the top down, a board that puts in the minimum investment to get by may reflect directly on a playing/coaching performance of also putting in a minimum effort. What will a professional, honest board that invests for the future instill within the playing/coaching staff?
From what we have read from AP, heard at forums etc, it looks like he speaks his mind and is passionate about the club. I hope that he is also telling the truth, if so this is not a good news story but a great news story and a very bright future is ahead of us and hopefully a profitable future over the next few years as we get back towards the glory days of the mid noughties.
For the trolls I do understand exactly what you mean, if these noises were coming from the red side of the City I would also be very jealous
Joined: Jan 10 2007 Posts: 6766 Location: Stalking Jerry Langford
Chris71 wrote:Not a world exclusive really, pretty much just confirmation of what most fans already knew that the club was only making a profit by not spending much of the incomes. Much rather have Pearson being honest with the fans than the last lot who thought we were mugs and would swallow any old tosh.
Think the shock from Pearson is not so much about the loss (as think he already knew this) but the serious lack of investment within the club. Still rather be where we are now than last season as I am confident that Pearson can move this club forward and bring success and sustain it at the top.
And that was 99.9% of people on here!
Pretty much every conversation or disagreement ended with something along the lines of 'at least were not losing money', 'where a profitable club, hows your finances?' etc and Mrs B was the star of this show!
I don't see it as a job. It is a passion and love that we all share. Neil Hudgell
Rupert Pupkin wrote:And that was 99.9% of people on here!
Pretty much every conversation or disagreement ended with something along the lines of 'at least were not losing money', 'where a profitable club, hows your finances?' etc and Mrs B was the star of this show!
But we weren't losing money,if they'd have invested in the club as they should have done then yes,we would have been losing money. But you can't change the fact the club posted small profits year after year. Would you rather be in our postion as we are now or the same position as Rovers?
easty wrote"If you want to watch the best R.L players in the country then at the moment you'll be choosing Leeds or Hull F.C. If you want to watch your R.L in one of the best stadiums in the country you'll be again wanting Hull F.C."
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