Well ill clear it up for you.
Us getting a new north stand has NOTHING to do with the council cuts as the monies used was in no way part of the HCC budget.
HKR and their partners have pretty much taken out a mortgage on the new north stand for £4.2m.
All the HCC are is the owners whilst it is payed off over the next 25/30 years they are also the people who the monies come back to.
There is some risk on the HCC's part as if HKR go belly up they are left with the bill but they obviously feel it's not a huge risk or they wouldn't have accepted it.
So i'll say it again we are not getting one penny of the HCC.

Oh I see wrong Justin

Lets hope Colt45 and the other deadheads realise this before they go embarrasing themselves in the HDM and get another red card

Have you seen the repayment schedules? It said in the HDM yesterday that initial payments were minimal for 4 years and would rise "as and when attendances increase". What if they don't increase? The central government still has to be repaid. Who makes up the difference in that scenario? Presumably Sirius and Hull Training have similar "Buy now pay 2016" terms, if they go belly up, similarly the council would have to cover the shortfall. I'm sure Mike Smith's detailed statement today will address all these points. Or maybe Mason will be answering the questions on his behalf.

So you expect HCC to release private and confidential financial matters to third parties immediatley after agreeing the funding. Bit like the public were informed of HCC paltry return from your club to their coffers.....after how many years ?

Must do better.

Yet you can claim categorically that the terms could not in any circumstances disadvantage the Hull taxpayer without visibility of said documents. Must do better.

That statement was removed - I think there is every chance because it was rubbish. I hope I'm wrong and that type of deal wouldn't be without precedent!

EVERYBODY, R&W and B&W, please be careful with your 'presumablies', 'ifs', 'maybes', and 'I'm sures'. Especially if your speculations are complete shizzle.

But if you do go belly up, then you'll just merge with a local RU club and play in the Aviva Premiership.

That's what that letter in the HDM said.......

As i said earlier in the thread i'm pleased for the area to have this kind of investment. The more i read though the more i cant help be concerned that rather than a grant from the council which would have been wrong this is now a loan from the government guaranteed by the local council. My concern i guess is that normal providers of loans are bound by the Financial Services Authority and the recipients of the loans normally have to evidence certain income levels etc to repay the debt in full. This loan feels a bit more generous and flexible in it's nature. That not only has a risk for the loan provider (tax payer) but it does also have further risk for the guarantour. (local council)

All i can say is that i hope Rovers can keep meeting the repayments. (and i've seen no evidence that they wont) If for whatever reason they dont make the repayments it's the rest of us that will suffer!!

That isn't an additional risk, it is the passage up the chain of the same risk. If Rovers can't meet the repayments, the council will have to cover Rovers share (roughly 1/3 of the total, I believe). If the whole council goes belly up then the the rest of the country will be stiffed. It is a generous loan, I wouldn't argue with that.



By my very rough reckoning, the scale of the suffering caused by Rovers failing to make repayments would be less than £5 per head in Hull or 3p per head if it became a national problem (the latter reflecting an almost unprecendented civic crisis). Serious, but hardly catastrophic.