City and SMC's accounts have now been filed. Because City's accounts have a "going concern" qualification, and the SMC derives half its income from City, there is consequently a going concern qualification on the SMC accounts due to the uncertainty over City. The SMC has positive net assets, though. Interesting.

20 million debt says Richie Levy as we speak !!

duffen just bought a yacht 1.5 millionwonder if its down for an assett for city

David Burns had a nice slot on national radio just after 5pm about the club having a bad cash record in the past.

Sorry. David Burns was on 5 Live tonight with the news that now City have finally filed their accounts, there is an auditors comment that the future of Hull City is uncertain financially. In order to operate within the company's finance facilities, City need to raise £23 million in the next 12 months either through commercial income, player trading or extra financiing. Because the SMC relies on City for income, the doubt over City's future translates to a doubt over the SMC.

Doesn't matter to us if SMC goes pop, as the council will appoint another company to run the stadium.

It matters if there's a big hole in the stadium's finances as someone will have to meet the costs

£16 million to come from the premier league in jan and another 7 million from either a loan or by selling players but it would go down like a lead ballon he says after already selling their best player recently.
Duffen due to appear on humberside but pulled out due to having flu and untill someone from the club comments he doesnt really know much else.

Well the stadium belongs to the council doesnt i so theyre not just gonna close it,knock it down and build houses. Someone will take it over or the council will just up our council tax to pay for the debt ! (That should please the Rovers fans !

)

According to RH, City lost £10m in their promotion year. How? Its not like they slashed big style on players.

Hope so as I pay mine to the east riding council

Where's My Uncle Harry to put us all right?

Hmm, all sounds a bit like robbing Peter to pay Paul so he can pay back Peter, according to Private Eye. A bit like when you pay one credit card off with a cash advance from another and the same payment goes on a nice merry-go-round to stave off the final blow.

[urlhttp://boards.footymad.net/forum.php?tno=297&fid=148&act=1&mid=2124084376[/url

Interesting that they reckon half the SMC's revenue comes from us. Duffen should really try to be a bit more humble.

£20 million in todays football is peanuts.......city wont have any worries in getting extra finance either through investment or loans...IF the mighty fc was 5 million in debt then i would be worried...

I actually think Duffen has been sectioned after he claimed that Phil Brown is a better manager than Benitez.

some liverpool fans would agree....now thats a worry...

There is no hole in the Stadium finances just the company appointed to run it, they could go bust and it would not cost the Council a thing the liability for their debt is at their door, they are a limited company independant of the Council who lease the Stadium to that company! They keep their profits so they mee their losses too!

Quite frankly if they go bust then they want to be appointing a firm who have nothing to do with either club and who just want to make money, we might get a few RL internationals then. Sorry I have little sympathy for our Mr D, who might be about to find out that some times your the pigeon and when you are you should remember that on other occassions your the satatue. Then again as a RL fan as Mr Duffen once told me I can't write anyway!

Think the official description of that set-up is "a bag of spanners"

SMC as such is OK financially, the risk comes if City go bust and cease to exist. Then the council as you say is left with the asset but only one tenant to charge and recover its costs from, us. However, can't see a scenario where City don't exist, and the costs are small fry for a football club the size of City, even if reincarnated as, say, a Division 2 club.

Oh happy days.......pity im off work this wk as id be giving the City fans loads.

Does hudgell still have something to do with city?

Thats even more confusing than Agars tactics and substitutions

No....there is no fee for him.

I saw his name on the city website the other week (And I dont mean advertising) which made me wonder what interest he had ?

www.hullcityafc.net/page/WhosWho/ Whats all that about ? Vice president !!

www.hullcityafc.net/page/WhosWho/ Whats all that about ? Vice president !!

Who should we wish the most luck? Hudge, with City's accompanying "Bag of Spanners" or City, with Hudge's financial success story at Rovers?