It's in the notes to the accounts.

Just found it.
It might explain why Mr Allam had been saying he wanted £120m for city, and this current deal is for £130m (city+smc).

WhWhat do you gain from buying the company that owns the smc , don't the profits go to the council anyway ?

...profits??

Having AP involved in any prospective takeover can only be positive.

I think its good news for everyone, obviously good news for us, he knows Football and can deliver for City and has proven he can run the SMC at least at Breakeven levels for the Council.

Agreed, but any deal is far from done apparently.

You get to control the stadium usage, charging structure etc. There was an arrangement in place to return a share of any profits to the council, bit these were modest to say the least until the Allams took over then suddenly SMC became loss-making.

So he wants £10 million for a company that's "not made a profit" in years?

I presume that allam will gift any profit he makes from his sale of city to the people of Hull so he can realise the "gift" he sought so hard for since he took them over