Gibson is not allowed to subsidise MFC to the tune of £12m/year even if he wanted to.
There is an owner subsidy allowed, but I think its around £5m a year.
The Hull pricing is very good, myself I think £20 for a seat at a Championship game is selling the product a bit cheap. The English Championship is quite a high standard and mainly played in modern safe stadiums, certainly at Hull.
Parent company Gibson O’Neill guarantee the losses the club makes every single season outside the PL.
This has been way higher than £1m per month.
He hasn’t put that money in, he has
The restriction talked about is
Gibson is not allowed to subsidise MFC to the tune of £12m/year even if he wanted to.
There is an owner subsidy allowed, but I think its around £5m a year.
The Hull pricing is very good, myself I think £20 for a seat at a Championship game is selling the product a bit cheap. The English Championship is quite a high standard and mainly played in modern safe stadiums, certainly at Hull.
Gibson O’Neill guarantee the club losses every year. Gibson does not put that money in, he is liable for it.
It is considerably more than £12m per season on many seasons and we lose money every season outside the PL or PP’s.
There is no cap on how much he can guarantee this way, so long as his Parent Company can cover it.
The cap is re FFP.
The club in the Championship can only lose £39m across 3 years IF the owner injects £24m in equity, or provides Undertakings (guarantees) intended to be eventually converted if required into equity.
I am presuming that GO’N’s undertakings are constructed this way as there has been no equity injected since 2016.
The allowances for FFP are considerable meaning a big actual loss can still be brought within FFP guidelines if undertakings are constructed appropriately.
The way to stop needing to increase the undertakings is to stay in the PL.
It’s is why getting up is key.
And why given the lower wage bill, increased revenue and paltry current amortisation charge, I still expect Gibson to invest in the quality to go up.
He’s leaving it very late.