Hull FC under severe threat

[Tommygilf]

33 minutes ago, Bleep1673 said:

Has any club started a crowd funding page? Where supporters can donate what they would've paid on a match day anyway?

I know Wakey and Leeds have got some new membership schemes in place to support the club financially.

[gingerjon]

10 minutes ago, Hela Wigmen said:

Don’t know the answer to your question, I haven’t seen any RL clubs doing it but I’ve seen plenty of non-league football clubs doing it. 

I’ve also seen in Scottish Football that some clubs have signed up to a “Donate a ticket” scheme, which, as it says on the tin, is you donating the cost of a matchday ticket to your club. 

Those clubs have officially ended their season and don't know when their next games will be. That does make the 'ask' a little easier.

[Hela Wigmen]

9 minutes ago, gingerjon said:

Those clubs have officially ended their season and don't know when their next games will be. That does make the 'ask' a little easier.

Most were set up before any decision was made. 

[paulwalker71]

55 minutes ago, Bleep1673 said:

Has any club started a crowd funding page? Where supporters can donate what they would've paid on a match day anyway?

That doesn't work for Season Ticket holders who, certainly at my club, make up the great majority of supporters.

[Hullfan]

If I was a player at a club for instance at Hull, (been there done that). In this current situation there is no way id be taking a pay cut. The club have given me the contract therfore there pay me what my contract says. 

[MADREDNIGE]

9 minutes ago, Hullfan said:

If I was a player at a club for instance at Hull, (been there done that). In this current situation there is no way id be taking a pay cut. The club have given me the contract therfore there pay me what my contract says. 

These are exceptional times though which is affecting everyone all over the World. Desperate times call for desperate measures. 

[Les Tonks Sidestep]

23 minutes ago, Hullfan said:

If I was a player at a club for instance at Hull, (been there done that). In this current situation there is no way id be taking a pay cut. The club have given me the contract therfore there pay me what my contract says. 

Ok, we've gone bust you're redundant and we've no money to pay you off. You're now a creditor. And by the way our only assets are some rugby kit and a few balls...

[DimmestStar]

Just 2 or 3 months ago Pearson was almost boasting about his overspending both last season and this which he himself described as unsustainable. It was all about the hope to compete with the likes of St Helens.

Even before the current crisis his gamble looked to have backfired, so much so he sacked his coach and went on TV to tell us so within minutes.

Hull FC by Pearson's own admission don't just make losses they PLAN to make losses and don't have any assets like a stadium as security.

Pearson wants a loan which the government gives 100% security. But that's not a loan it's a gift. There was never a chance Barclays or the government could do that for him and his unsustainable speculative Hull FC business model. And nor should they.

[GUBRATS]

1 hour ago, Hullfan said:

If I was a player at a club for instance at Hull, (been there done that). In this current situation there is no way id be taking a pay cut. The club have given me the contract therfore there pay me what my contract says. 

Until there's no money left and then you get nothing , seems fair enough 

[GUBRATS]

2 minutes ago, Hullfan said:

What does Hull FC have to do with my name on here?? Bizarre thing to say my mate. Have you been drinking the sherry again

He said Hull , not Hull FC , it says Hull in your user name 

[Hullfan]

1 hour ago, GUBRATS said:

He said Hull , not Hull FC , it says Hull in your user name 

Yes he did well done!! Referencing to the assumption Im a fan of Hull FC

[GUBRATS]

11 minutes ago, Hullfan said:

Yes I'd like to contribute, so if Hull FC are no longer then there won't be a Hull for me to be a fan of?? OK so will that mean Hull as a city will be no longer?? Because its Hull that I'm a fan of

Always good to see somebody supporting their town/city 

[GUBRATS]

2 minutes ago, Hullfan said:

Yes he did well done!! Referencing to the assumption Im a fan of Hull FC

Maybe that's because we are on a thread about Hull FC ?

Anyway who cares , bottom line is everybody is taking a hit because of this , if any particular player doesn't think he should that is his perogative 

[Tex Evans Thigh]

11 hours ago, sweaty craiq said:

 

I will assume Sky are still paying and Hull have the vast majority of admission and sponsorship income up front , as do most SL clubs. Variable match day income will be lucky to cover operating costs for that day - then add in the furloughed staff, spend on training and nutrition, medics etc

 

I do understand Leigh and TO have been put on stand by should any SL fail btw

Why would Leigh and Toulouse be the clubs that have been put on stand by?

[Wakefield Ram]

On 23/04/2020 at 23:45, Tommygilf said:

Pearson doesn't come out of this great, but I do understand what he's saying here. The SME loans system have been criticised for a lack of accessibility.

In the context of things, I'd prefer if we went for a guarantee all loans now and deal with failing businesses later. Jobs and livelihoods are on the line.

The problem is the government guarantee of 80%. If the bank thinks the club might not be able to repay then they won't lend. Losing 20% of the loan could still be a sizeable sum of money. And given no-one knows when RL will return, it's impossible to know how much would be needed. The fact Hull have not repaid historic debts from 9 years ago won't have suggested they will repay any new debts.

 

[M j M]

19 minutes ago, Wakefield Ram said:

The problem is the government guarantee of 80%. If the bank thinks the club might not be able to repay then they won't lend. Losing 20% of the loan could still be a sizeable sum of money. And given no-one knows when RL will return, it's impossible to know how much would be needed. The fact Hull have not repaid historic debts from 9 years ago won't have suggested they will repay any new debts.

 

Looking at Hull's accounts I don't think they have much in the way of historic debt (maybe £325k which is frankly trivial) and I don't think Pearson said that they did - it looks like it's just ###### Hull Daily Mail reporting where they don't understand the difference between accounting losses and debt. Hull fail on the historic losses criteria, not debt ratios.

[Les Tonks Sidestep]

8 hours ago, Tex Evans Thigh said:

Why would Leigh and Toulouse be the clubs that have been put on stand by?

Leigh are on standby whenever there's a whiff of a SL club being in trouble - well according to sweaty anyway.....

[HKR AWAY DAYS]

Some may recall that a couple of Hull KR fans set up a just giving page with the intention to raise money to sign a player, which was, perhaps unsurprisingly, met with sarcastic abuse from a good number of the unwashed from across river.

Well not any more...

https://www.justgiving.com/crowdfunding/Hull-FC?utm_term=zEzzRz4a2

Joking aside, this is a worry for the game if Hull are struggling financially. I think it is fair to say Hull are considered one of the stronger clubs and it doesn't fill you with confidence moving forward.

[Lowdesert]

1 hour ago, M j M said:

Looking at Hull's accounts I don't think they have much in the way of historic debt (maybe £325k which is frankly trivial) and I don't think Pearson said that they did - it looks like it's just ###### Hull Daily Mail reporting where they don't understand the difference between accounting losses and debt. Hull fail on the historic losses criteria, not debt ratios.

Nice to see some factual evident mate.  I think the HDM quotes Pearsons comments.  He also quotes on Twitter.

###### reporting is standard fodder.

[Forever Trinity]

17 hours ago, Bleep1673 said:

Has any club started a crowd funding page? Where supporters can donate what they would've paid on a match day anyway?

Trinity have increased revenues by 40K in the last month with fans subscribing to Trin TV the lottery and squad builder.

[Ullman]

5 hours ago, Lowdesert said:

He is a Hall Road Rangers fan 

Not since they sold out and moved from Dunswell.

[ATLANTISMAN]

GENTLEMEN:) 

Lets not make opinions of situations that no-one here (Outside of the owners of a club) knows anything about ,HULL FC are a wonderful club that as are all clubs an asset to the game of rugby league.

ALL rugby league clubs should have 100% support during these difficult times can you imagine no local derbies ? Even major NFL clubs in the USA have derbies as do NRL/Soccer/Cricket (I am a Kent fan we hate Surrey and Sussex:) 

Lets be positive here and look to the future Toulouse v Catalan Dragons now that will be a real grudge match:)

 

Paul

 

 

[Les Tonks Sidestep]

1 hour ago, Forever Trinity said:

So media reports indicate teams like Wakefield and Salford may struggle, well I cannot speak for Salford but my limited know ledge of Wakefield is they have an asset the ground, it may not be the best but its theirs, MC also balances the books each year ( up to now), obviously there are other clubs who will be in the same position but those that have no assets only players may struggle if this goes on for some time.

Perhaps when things start to return to normal a complete re-think on how the game is structured and marketed needs to take place.

It's mortgaged for more than it's worth so hardly an asset.

[Toby Chopra]

1 hour ago, Forever Trinity said:

So media reports indicate teams like Wakefield and Salford may struggle, well I cannot speak for Salford but my limited know ledge of Wakefield is they have an asset the ground, it may not be the best but its theirs, MC also balances the books each year ( up to now), obviously there are other clubs who will be in the same position but those that have no assets only players may struggle if this goes on for some time.

Perhaps when things start to return to normal a complete re-think on how the game is structured and marketed needs to take place.

I'm not sure the stadium helps, unless Carter can borrow against it to tide the club over, but would that even be sustainable? The debt would just hang over the club forever. The asset is also at risk if the club can't pay its bills (most of which is players' salaries.) 

The only way a club without a rich owner can survive without matchday income is to convince the players to take a big pay cut to match the reduced income.

Hopefully the club and the players can come to a sensible deal, same for Salford and any others, including the 'big' clubs, who are potentially even worse hit because it's their huge match days income that allows them to pay bigger salaries. 

[Les Tonks Sidestep]

1 hour ago, Toby Chopra said:

I'm not sure the stadium helps, unless Carter can borrow against it to tide the club over, but would that even be sustainable? The debt would just hang over the club forever. The asset is also at risk if the club can't pay its bills (most of which is players' salaries.) 

The only way a club without a rich owner can survive without matchday income is to convince the players to take a big pay cut to match the reduced income.

Hopefully the club and the players can come to a sensible deal, same for Salford and any others, including the 'big' clubs, who are potentially even worse hit because it's their huge match days income that allows them to pay bigger salaries. 

Not sure how he could possibly do that. In fact everything Trinity own including, it would appear from the 'Charges' documents any future holdings or entitlements, has been put up as security against their loan to purchase the ground.