...insists talks are in their final stages and the first major investment in the club is imminent, says the HDM.
He says he is ready to put up to £15m into the club, and is in the process of transferring the first £5m into KRs account which would immediately clear £2m of the clubs debt. He also says the allegations of his business background are untrue.
It also speculates that Hudge is expected to make a statement in the next few days outlining the plans.

How do you get to see that before it is on the site?
I can't view it yet.

There these things called "newspapers".

Who in the right mind would buy the HDM?

its going to happen and i think its gonna be grt for the club lets get it back were it belongs,none of this lets buy the club for 3or 4 million and invest a couple this is big money were talkin here next season i reckon will be different again #robinsrevolution

The next 5 years could be interesting.

He certainly sounds like a colourful character.

He just needs to be carefull of the Rovers obsessed mrs Bore.

She will be trying to dig up the dirt as we speak.

i hope for the sake of rovers this doesnt go through! before im shot down in flames just ask where hes getting the money from? a quick trawl on the internet revealed some disturbing info about his time with cash back promotions! i wont make any slanderous allegations but i wouldnt touch this guy with a bargepole,and if he does take full financial control of kr given his past record then god help kr.

Lets try to keep this thread incident free please.


My take on the article is that it is further proof that the deal wont happen. I think the lack of comment from our Board speaks volumes.

Key people on holiday .........if I was Hudgell and Crossland and somebody had the real funds to buy me out and pay off my debt with interest then I would forgo my holiday and get the deal done so I could go on holiday....see my point

I will not be celebrating until it is signed sealed and delivered,but you Dullers do make me laugh you would sleep with the Devil and Adolph to bring success to your once great club!

=#FF0000Read my friendly request on page one.

R.B.A

Sleep

Adolf

Apologies on my spelling but you know what i mean.

Taken on face value it can only be good for rugby league in the city,be nice to see both clubs pushing on and getting some decent investment from grass roots upwards and hopefully both will be rewarded in time with silverware. When other clubs are going to the wall it makes a refreshing change for the game to be able to give out some positive news.
I will say though,i think anyone investing this sort of money into any sports club must be mental. There's very little to be made from rugby league.

From what I have been told, the stumbling block relates to concerns revolving around the withdrawal of the current Boards 'guarantees'. At present the Board are underwriting the clubs debts (which ensures continuance of credit with suppliers etc.).

For me it has been the main concern ever since TLs name came to light. Apparently, TL will take over this 'mantle' and here lies the problem; how will this affect the trust and goodwill the present Board have forged with the clubs creditors etc (and sponsors)?

Perhaps, by keeping NH and RC on the Board it suggests the curent path of 'economic sustainability' will continue - its ultimate aim of not needing the support of a benefactor. I hope so. I feel sure both NH and RC would want to preserve their legacy.

Having said this, NH and RC have made it plain that they aren't prepared to invest in any more heavy losses, perhaps then it is time for them to step down.

This is a momentous point in time for Rovers; assuming TL is all what he says he is, then this might well be the catalyst to far greater things. Surely the depositing of £5m is proof enough!

As a Hull FC fan this news excites me as a rugby league fan I want to see the sport grow & have both Hull clubs be challenging for honours.

How great would it be to be the top two clubs in the competition it would bring this city back to life. Would love to see both clubs regularly filling their stadiums.

In this economic climate anyone opposed to investors are foolish. The sport as a whole is crying out for investment. Bradford & Salforc are proof of this.

If this investment comes off hopefully both Hull clubs should be in a strong position & be top 4 clubs for the foreseeable future & who knows we might get another all Hull wembley final. As much as the clubs are rivals nothing could compare to playing each other in a final. Seems some supporters would happily let the FC or KR die depending on who they support.

Both teams will benefit from each other both pushing at the right end of the table.

If nothing else it represents a big improvement in media management. Nice variation on the Humber Bridge background that is traditional for these things.



I've been back and forth in my head over that. 'They haven't confirmed it, but then they haven't denied it, it's Christmas, Hudgell is in Mexico, he's been seen with the Chief Executive, but admits the money is only imminent.'

I guess we're entering the endgame at least. The money will go through and it'll happen - or not.

If he pays off the creditors, that ceases to be an issue. How is our debt structured - I've always assumed mainly director loans, that they underwrite the losses and own the debt. Paying interest to third parties would seem a bit pointless.



It certainly would be.

In some respects I would agree, but continuance of credit is always a concern and an aspect of the business monthly cycle.

A change in management structure can often undermine this. In fact, even under the assurances of NH and RC Rovers have had a number of 'credit' problems. Credit is a very fickle business and one that needs to be untarnished.

To the current Board's 'credit' they have worked hard to rebuild what was a very poor credit rating (remnants of the CVA), to the extent that they have been able to qualify for the terms and conditions demanded by prudential borrowing (re the North stand).

Its all well and good to 'settle' debts but this has to be proven month-on-month. This is something that TL will be entrusted with.

Two points. I'd check your assertion that Rovers credit rating has been rebuilt with D&B. And prudential borrowing is taken out by Hull City Council, not Rovers.

Anyway, it's good Tony has confirmed the cash is as good as in the bank. The contractual elements will be pretty complex I'd imagine. If the deal is £15m, when does control transfer? If Rovers bank £5m and there's a delay on the remaining £10m, can TL claim ownership anyway through the materiality of his investment? Have the RFL signed him off? Such fun!

I agree, however, for the Council to 'qualify' they had to conduct due diligence on Rovers (and the other parties involved) under the strict Treasury guidelines (risk assessment etc etc).

I see you dropped in D&B, but for the most part Rovers credit rating has improved under the current Board; Rovers have moved on beyond the cash-only days!

coming from a hull fan well said i also say bring him in but hutch has got to stay at least for the next couple of years to make sure we are ok but if true lets have the money

The Council are under-writing it at their own risk. If you think there's been a steady improvement in Rovers credit rating when they are filing losses of half a million a year and have a recent CCJ, I invite you to validate this through D&B. All of which is entirely irrelevant when a wedge of £15m cash is about to land, of course.

Talks have been on-going for over 3 months we are told. Judging by Mr Larvins comments, he is happy with everything and wants to proceed with the deal. The vast amount of money he is talking about investing is pretty much un-parralled in Rugby League circles.
Despite this there is obviously something that is holding back Hudgell and Crossland from sanctioning the deal. They are intelligent and successful business men. If they are having doubts then something obviously isnt right.
It is too good to be true and wont happen.