Hull FC owner unsure if the club will survive the next 6 months

[Hull Kingston Bronco]

“If I can get the club through the next six months, we will have a very bright future.”

Oh dear. "If" never sounds great in that sentence eh. 

https://www.totalrl.com/hull-fc-owner-adam-pearson-paints-bleak-picture-of-super-league-clubs-finances-with-significant-government-loan-to-be-repaid/

[Dave T]

Does Pearson ever say anythibg that is good for the game? 

Can always rely on him to grab attention with negative news when there are good things happening. 

[EggFace]

Goverment should write the loans off...######s.

[Kenilworth Tiger]

Wow and they haven't even had to pay for a stadium

[Gooleboy]

With the support base at Hull you would expect better than what has been served up recently. Maybe Pearson would be better letting someone else takeover, if there is anyone interested in doing so. It seems that not owning the ground will always be an issue for Hull.

[Eddie]

35 minutes ago, EggFace said:

Goverment should write the loans off...######s.

Why not, they waste money on far worse things than rugby league, and as he says they made the clubs play behind closed doors thus losing the majority of their revenue. 

[Damien]

Doesn't he say this every year?

[Anita Bath]

He should try running a team in league 1.

[Hull Kingston Bronco]

I understand his frustration, I wouldn't want to spend £1m a year on a rugby club either. But then I didn't do something daft like buy one. Hull FC have more opportunity to be successful than most clubs given the size of their supporter base and talent catchment area, but even with that platform it's going to cost what it costs. 

Pearson has always struck me as a bloke with buyer's remorse. I think to be prepared to sink that much money in over the long-term you have to 1) be able to financially live with it and not expect it to change much, and 2) have an emotional connection to the club and the community it sprang from.

I'm not confident Peason has either of those, let alone both. 

[Bradman Better]

1 hour ago, Dave T said:

Does Pearson ever say anythibg that is good for the game? 

 

There are reports that Pearson did say something that is good for the game in 2017.

I have not yet been able to corroborate these reports.

[M j M]

I've never understood why Pearson owns Hull. Or what his motivation to stay involved is. He's not particularly wealthy and he's not a longstanding fan as far as I know.

Is he ultimately waiting for a wealthy buyer to come along and take it off his hands, giving him a profit on what he paid and refunding any loans he's personally put in? 

[FearTheVee]

3 hours ago, M j M said:

I've never understood why Pearson owns Hull. Or what his motivation to stay involved is. He's not particularly wealthy and he's not a longstanding fan as far as I know.

Is he ultimately waiting for a wealthy buyer to come along and take it off his hands, giving him a profit on what he paid and refunding any loans he's personally put in? 

Here's hoping he finds someone as the annual chronic underperformance and moaning gets a bit old after a while.

[EggFace]

4 hours ago, Eddie said:

Why not, they waste money on far worse things than rugby league, and as he says they made the clubs play behind closed doors thus losing the majority of their revenue. 

I agree with plus English rugby League doesn't have the cash cow that English Rugby Union as is England Internationals so it be fair to compensate English Rugby League plus we should start our own Rugby League Matters movement as as to compenstated for discrimination the code and players has had to endure since 1895.

[Hull Kingston Bronco]

After Derek's announcement at the weekend maybe Pearson could move Hull FC over to Mr Beaumont's new Ultimate-Sooper-Dooper League competition in South Africa? Might give the 'big club' a decent chance of their first league title in 40 years 

[ATLANTISMAN]

Adam is a decent person and is doing a great job in very difficult circumstances.

The potential for Hull FC is enormous even if he manages to unload it to mega rich investors he has held the fort during a very difficult period for the game and that should be applauded.

P

[Hull Kingston Bronco]

1 hour ago, ATLANTISMAN said:

Adam is a decent person and is doing a great job in very difficult circumstances.

The potential for Hull FC is enormous even if he manages to unload it to mega rich investors he has held the fort during a very difficult period for the game and that should be applauded.

P

Yes that’s true, I agree, and what was Hull FCs alternative hypothesis?

That being said, I still think it’s reasonable to question 1) his decision-making in taking it on in the first place, and 2) the tactical sense of vocally talking down the club’s position and the sport’s forward potential if his objective is to persuade someone to take it off his hands?

But I’ll readily admit as a Rovers fan I enjoy pulling their tails on the subject 

[Just Browny]

There might be a bit of boy crying wolf here because, although I also opened the article thinking 'here's Pearson whinging again', it seemed to me he raised a serious issue here about the impact of the Covid loans needing to be paid back at a time when clubs' central revenue is falling.

I hope Hull and others are able to find a way through it.

[Gates1]

Reassuring for Hulls new signings.

[FearTheVee]

11 hours ago, Gates1 said:

Reassuring for Hulls new signings.

Quite, and everyone else employed at the club.

Edited September 28, 2023 by FearTheVee

[fighting irish]

It's a cash-flow problem isn't it? 

Get back to the government and negotiate an extension of the loan (repayment) period. 

I can't imagine they'll write any loans off, but waiting a bit, is entirely plausible. 

[Big Picture]

2 hours ago, fighting irish said:

It's a cash-flow problem isn't it? 

Get back to the government and negotiate an extension of the loan (repayment) period. 

I can't imagine they'll write any loans off, but waiting a bit, is entirely plausible. 

If they think it could help them avoid the electoral slaughter the polls point to they might wait or even cancel the loans altogether. 

Unfortunately the World Cup will have shown them that there aren't really enough votes for them to gain by that. 

Edited September 28, 2023 by Big Picture

[fighting irish]

30 minutes ago, Big Picture said:

If they think it could help them avoid the electoral slaughter the polls point to they might wait or even cancel the loans altogether. 

Unfortunately the World Cup will have shown them that there aren't really enough votes for them to gain by that. 

I was thinking more about the alternative of waiting a bit for the money, or getting none, if the (large) debt repayments cause the club to go bankrupt. 

[FearTheVee]

If any club goes bust it won't be because of Covid Sports Survival Package loan repayments, but it is certainly a convenient excuse for lossmaking clubs that can't pay their own way with or without SSP loan repayments.

[MZH]

I expect this is just his way of getting supporters to renew season passes after another disappointing year.

[Gooleboy]

1 hour ago, MZH said:

I expect this is just his way of getting supporters to renew season passes after another disappointing year.

He always seems to put this sort of thing out at the end of the season. He seems to be one unhappy owner.