With all of the talk regarding the recent goings on with the SMC I suddenly had a worrying thought. I must say that I come at this with absultely no inside knowledge of the workings of the SMC, Hull City Council or any of the parties involved and with no knowledge of the existing agreements.
If the lease is actually held by the SMC then I wonder if we have an issue, if it's held by the council then I don't think there's a problem.

It looks like the SMC may be in financial difficulty and if, all of a sudden those supporting it (I believe this is the Allam's/Hull City) choose to withdraw their support it is probably not viable. If this happens presumably a liquidator would be appointed and the assets of the business would be sold to the highest bidder. If this was done through a "newco" arrangement would it be possible that the existing agreements, i.e. the leases would lapse and would have to be renogotiated with the new owners. No doubt you can see where I'm coming from if the new owners were not Rugby League freindly.

I am not an insolvency expert so hopefully there is some major flaw in the above scenario, perhaps someone who works in insolvency can clarify this.

I should add that this is a genuine concern, I am a longstanding FC passholder not someone deliberately trying to stir up trouble.

if the smc goes tits up think both city / fc lease are nil/void i think not to sure tho

I believe that SMC have £1.2million in the bank, from previous years. It is only since the Allams have taken over that the SMC are making a [i=#BFFF40'possibly manipulated'[/i loss.

We have a 50 year lease, although when Allam was trying to buy the KC I remember a councillor coming on the radio ( may have been councillor Gerety ) saying he feared for Hull FC if Allam got hold of the stadium. So I would guess we are safe as long as the council owns the stadium

I think if (SMC) Allam pulls out (which maybe his plan) we could be in trouble as the council maybe forced to sell the stadium, no guesses who would come in and buy it...

Not necesarily someone who used to run it could take it over!

The only way we are in trouble is if City BUY themselves out of their remaining lease, that would cost the about £40m (we pay £600k a year, and we've been there 12 years or so, into a 50 year agreement), they would then have to build somewhere to move to, so another £60m (being conservative).

It isn't going to happen, Allam is playing games, the SMC own a lease on an asset that is owned by the Council, which is ultimately owned by the state, any sale would get referred to the Secretary of State, it would take years and millions of pounds in legal fees (remember, Hudgell is like a trade union rep compared to a fully qualified QC).

The SMC has a 50 year lease, I thought Hull / Citys tenancy agreements were shorter?

Your lease on the stadium is as safe as anything of this type can be, as long as, as with any contract, you abide by its terms and your owners want it.
If you want some scary (well more scary than that) scenarios to torture yourselves with, I can come up with 3 or 4, no bother.

20 or 25 years I think

My understanding is our lease is 50 years, but the terms have renegotiation clauses related to elapsed time?

IIRC it is a 50 year lease and nothing can happen till 25 years, honestly cant remember the full ins and outs but we have at least 15 years left

And im sure its with the HCC and not the SMC

As long has we paid the rent we are safe .SMC are the ones to worry

Spot on Karl both Clubs deal's were made with the HCC

Are the SMC allowed to increase tenants rent if they as claimed are now making a loss? Maybe this all situation has been fabricated to show the need for such a rise. The pictures could just be a smokescreen

Nope

Quite worrying that the man who is now 'running' the SMC is the same man who created that lease agreement in the first place just before leaving his job shortly after to work for Hull City!!!

Get The RFL To Buy The Stadium Haha.. Then We Pay Them

1. you've slept with your mother?
2. everybody has slept with your mother?
3. you have warts on your k nob?
4. you have feelings towards Ehab?

5. All Of The Above

He has warts on himself!

Him and Escab have warts now after doing the mother in!

Not sure if its been posted.

The SMC have a 50 year lease on the KC

Both clubs were given 25 year user agreements

There is a renegotiation clause for the Council in 2017, but judging by their total ineptitude on this issue, I'd imagine Dr Allam will say "jump" and the council will just ask "how high"