Following on from the press release issued at 5pm on Monday 8th October about a potential bid for Hull City Football Club, the Hull City Supporters Trust (HCST) would like to issue some clarity on the situation.
HCST have and remain focused on improving the Club – supporters’ relationship on numerous issues, all of which have been well documented previously.
The Trust Board have been aware of various levels of interest from 3rd parties for a considerable period of time in making approaches to purchase the Club, and earlier this year, HCST were approached by a representative on behalf of SportyCo in relation to their own proposal.
SportyCo were keen to understand the background to the current issues affecting the supporters and discussed a model that could result in an opportunity for Hull City supporters to invest in the Club to generate funds and an element of fan ownership, as well as a place on the Club Board for supporter representation.
HCST understands that there is funding available from SportyCo and other US & UK based investors to facilitate the purchase price offered. Blackbridge Sports are actively working with all parties to support the process.
The meetings and negotiations with the Allam family will be led wholly by SportyCo and their representatives, and only when any deal reaches an agreement between both parties will the opportunities for supporter investment materialise.
HCST have not used any funds as part of the process to date, nor have we been asked to and at the current time there is nothing to consult with our valued members on as the offer to the Allam family is purely a proposal.
As we have repeatedly stated, HCST will always wish to promote a positive supporter’s relationship with the Club and remain open to doing so with any responsible future owner whom we hope are in place over the coming months.
We welcome the direct approach made by SportyCo to assist them in their proposal and are encouraged by their willingness to offer greater supporter representation than the current owners and hope this is a move that is replicated by alternative owners should their offers be accepted by the Allam family.
SportyCo and their representatives will present their proposal to the Allam family over the coming weeks, and until the outcome of those negotiations are known, further details of potential working capital and investment opportunities will not be available.
We wish all interested parties currently bidding for Hull City Football Club well with their negotiations and look forward to working positively with any new owners in the future.
Hull City Supporters Trust