OOOO now there you go - what are you saying Sandy???

The council are bearing the risk and underwriting the loan. Rovers, of course are only repaying £1.9m of the £6m. The rest of the bill is being footed by ERDF and an enterprise and training body who will occupy the offices and pay the majority of the repayments. The council, and public money, by any other name.

No. If a mortgage has a Guarantor on it and the borrower defaults, the Guarantor is legally obliged to make the repayements. It they fail to do this it's [itheir[/i assets that are at risk.



That's the whole point of having a Guarantor on a loan. It is extra security for the lender for advances that have a large degree of risk.



So I ask you again - if Rovers default or go bust, who makes the repayments?

Pretty Obvious HCC will be left footing the bill...



Basically you me and every person who lives in Hull will end up paying for Caravan park

Don't tell Sandy - he won't believe you.





Funny, isn't it? Why do Rovers have to undertake these convoluted deals for credit? The council Guarantor shenanigans, and the Allam loan 'cos he's nice and want's nowt back (not bluddy much



).



Wonder why they can't just go to the bank like every other credit-worthy and solvent business?

It can't be because they they aren't a credit-worthy and solvent business surely were told by our red and white friends that they are

Of course not!

And if they believe that they need

We have some very knowledgeable people on the Hull forum, this post is interesting and all Hull fans should keep a close eye on what is going on in the city. If it takes a lot of pestering of our local Councillors to find the truth, then lets do it.

That is true , but a low overall turnout may help the 'No Sale ' section if they can get mobilised.

Haven't seen it mentioned yet, but IF the council do sell the KC then it will be a capital receipt and as such can only be used for capital items, it cannot be used to fund council services as they are revenue

was discussed many weeks ago when Allem first raised the idea.

to all those people who said they wanted Kath and co out...... you may just get your wish

but you know that saying.. grass and greener on the other side thingy

Have they told you they're worried, ICM?

And of course "Be careful what you wish for"

never said he doesn't want anything back, just not off us! its an obvious attempt to get east hull council members on side for his grand scheme

Think you're answering the wrong question. You were confused on how Guarantor loans work. So who makes the repayments if Rovers default on the loan or go bust?



( And I do think Allam wants a something from you. Just not interest payments, and not yet. He'll be happy to leave his capital where it is until he wants to make his move. And then you'll know what it is, if it's not too late...)

as to the loan, I hadn't realised we'd signed a loan agreement that sees us have no liability in any way if we default, are you suggesting that if we go bust or default our assets wont be seized and sold off? That is a master stroke by our board in that case, a few years down the line we'll just go phoney bust as so many clubs have sell out to someone else and start again and the council has given us £4.5 M for free, woo hoo happy days

What assets?

The voices in his head?

PANIC !!

you really are hard of thinking, aren't you.

TBF..he/she is not the only one, I only hope some of these posters are kids, if not then it is scary

Which is 1.9 million of capital costs, which in turn is 1.9 million MORE than you are paying towards the capital costs of the KC.