City and SMC's accounts have now been filed. Because City's accounts have a "going concern" qualification, and the SMC derives half its income from City, there is consequently a going concern qualification on the SMC accounts due to the uncertainty over City. The SMC has positive net assets, though. Interesting.

20 million debt says Richie Levy as we speak !!

duffen just bought a yacht 1.5 millionwonder if its down for an assett for city

David Burns had a nice slot on national radio just after 5pm about the club having a bad cash record in the past.

Sorry. David Burns was on 5 Live tonight with the news that now City have finally filed their accounts, there is an auditors comment that the future of Hull City is uncertain financially. In order to operate within the company's finance facilities, City need to raise £23 million in the next 12 months either through commercial income, player trading or extra financiing. Because the SMC relies on City for income, the doubt over City's future translates to a doubt over the SMC.

Doesn't matter to us if SMC goes pop, as the council will appoint another company to run the stadium.

It matters if there's a big hole in the stadium's finances as someone will have to meet the costs

£16 million to come from the premier league in jan and another 7 million from either a loan or by selling players but it would go down like a lead ballon he says after already selling their best player recently.
Duffen due to appear on humberside but pulled out due to having flu and untill someone from the club comments he doesnt really know much else.

Well the stadium belongs to the council doesnt i so theyre not just gonna close it,knock it down and build houses. Someone will take it over or the council will just up our council tax to pay for the debt ! (That should please the Rovers fans !

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According to RH, City lost £10m in their promotion year. How? Its not like they slashed big style on players.

Hope so as I pay mine to the east riding council

Where's My Uncle Harry to put us all right?

Hmm, all sounds a bit like robbing Peter to pay Paul so he can pay back Peter, according to Private Eye. A bit like when you pay one credit card off with a cash advance from another and the same payment goes on a nice merry-go-round to stave off the final blow.

[urlhttp://boards.footymad.net/forum.php?tno=297&fid=148&act=1&mid=2124084376[/url

Interesting that they reckon half the SMC's revenue comes from us. Duffen should really try to be a bit more humble.