Somehow i don't think they would of been lining there pockets like they are here after losing a fair amount of money at gateshead.

and you have evidence that they are lining their pockets?

So how much money are they 'lining their pockets' with then? Round numbers will do.

Like any business you don't go into it to make a loss.Hull have made a profit for the last 5 years which tells me after the initial investment they put in,they are now making a tidy sum.

Not really, it was probably more that the wrong question was asked. There's (apparently) no long term liabilities in terms of loans. But as Mrs. B has pointed out, there will be plenty of current liabilities.
Of course we (as in the business) owe Kath etc, its called capital, the problem with kath, it seems, is goodwill. Kath obviously values the goodwill in the company a lot higher than potential buyers do.

So it's just an unfounded assumption then?

Thought so.

How the hell do i know?.All i know is that they have been making a steady profit and that not much reinvesting is going back into the club like getting in a world class coach,so the money must be going somewhere.

It is, it's PAYING OFF THE LOANS FROM DIRECTORS

The profit from the last 2 years was re invested into the team - Joe Westerman.

The club still has significant negative reserves so the owners cannot take a dividend. You are therefore suggesting they must all be on hefty salaries.

Take a look at how much profit we make. It's peanuts compared to most companies. And plenty of investment has taken place, just not in the one area where it would make a real difference on the pitch.

There is no evidence whatsoever that our BOD are making a fortune out of the club.

Maybe they give it all to bloody red nose day then.

are you actually reading what people write, people who KNOW, people who actually run businesses?

It's never been made public how much we paid for him.

He cost us roughly 100-150k which covers pretty much the profit.

This is geting out of hand.All i said was they are they are making more money at Hull then they were at Gateshead,then it got twisted.Maybe the quote lining their pockets was a bit unfair.Seems everyone are now taking their frustrations out on me.

Could be right but the money should of gone somewhere else like getting a top class coach in.It would of definitely come in handy this moment in time.

we can not be anywhere near the full salary cap, we continously get told we are full cap and that was before berrigan went and burnett was loaned out then tansey got sacked so theres at leaste 230-250k in wages. in return we sign phelps who can not be on anymore then 50k surley and obst again shoould be on no more then 50k, and to be honest i dont feel the club will make another signing this season and with salary cap space left that will be left to pay for westy around about the 100-150k

Obst and Phelps will be on a fair bit more than that.

apologies, wasn't intentional

they were making massive losses at Gateshead, but let's not forget we almost ceased to exist as a club, they came in and propped us up at the Boulevard and worked damn hard to get to the KC, they have invested (admittedly not wisely, but they have tried), whilst we make a profit on the accounts I do not believe the club is actually solvent in any kind of self-sufficient way, they are investors, they are entitled to a return, as yet the accounts have not afforded them a dividend (the only return they can get without drawing a salary, and I doubt any of them need £70k a year that much). We've invested in Tansey, Turner and Westerman, fair to say that cost at least £150k then we also paid to get Obst, so there is another £30k (at least), also look at the contracts we have terminated etc.

I do not like the way we are being run, but I think we are being run by James and Kath and not the shareholders (in fact, I know at least two sharehlders are a little fed up with things)

but you make a valid observation, we should not be fighting amongst ourselves at this time, we will be here long after the shareholder/board/coach and players have moved on.

and for those saying we should be at full cap, if there isn't something on the shelf then you can't buy it.

well no wonder our club is a shambles paying over the odds to average players like them no disrespect to obst and phelps

Err No!! - Berrigan's annual salary paid the transfer fee for Westerman,
this explains why he was not replaced.

And Dowes and Radford signed reduced deals!!

Agreed...Lets hope the BOD see sense and bring in someone who can take us where we all want to be and that is the top of the tree.

The board are on a good wage