Hull KR face big week as investor seeks controlling stake
HULL KR are heading into a crucial week in terms of the club's financial position as talks over a 'potential major investment' could come to a head.
As first revealed by the Mail, a local businessman has made an offer to join the KR board and plough a significant amount of money into the Robins.
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Neil Hudgell
That offer was first made almost two months ago, and following a period of due diligence, the Mail understands Rovers are hopeful of a deal being done.
The identity of the potential investor has been kept a closely-guarded secret at Craven Park.
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However, sources say the interested party is a Hull businessman who now works mainly out of the city.
Sources have also told the Mail that should the deal go through, although not a complete takeover, due to the size of his investment, the new investor would take a controlling stake in the club.
It is expected that chairman Neil Hudgell and vice-chairman Rob Crossland would both retain their current positions on the board going forward.
When contacted by the Mail, Hudgell said the matter was at a 'too sensitive stage' to make any comment.
He did, however, confirm that the investment was still very much under consideration and that progress had been made in recent weeks.
He also said he was hopeful of an outcome over the next seven days.
The offer of investment has come about after both Hudgell and Crossland appealed for more support, having under-written losses at KR every year since the club was promoted to Super League in 2006.
Those losses topped £500,000 in the last financial year, leading to the pair conducting a full review of the club's long-term financial viability.
Comments
by Laura71
Thursday, December 13 2012, 10:19PM
“Any news on the 7 figure takeover folks? Over 6 weeks since this report:
http://tinyurl.com/a75tkqs”
by FC_ON_THE_UP
Sunday, December 09 2012, 1:21PM
“Maybe the new investor has gone on holiday ? A long one !!..................(pms)
Maybe it's Lord Lucan ?
The Invisible Man ?
Bill Gates ?
The list is endless...............................Don't forget your loose change today Dobbins at 2pm, those buckets will be out and shakin' !!!!..........................
Hard times.”
by hkrarmy
Saturday, December 08 2012, 11:26PM
“laura71 so if you think eden is a 3 choice full back then that makes liam watts a 6th choice prop .”
by Bobbin_Robin
Saturday, December 08 2012, 9:55PM
“Laura, I understand your frustration but he won't "improve you"......
Reason being he's pants......he doesn't like the cold (Bless him).....and when the going gets tough, Sharon goes off......
BELI3VE......Lol....”
by Laura71
Saturday, December 08 2012, 9:48PM
“Whatever the Huddersfield Examiner's journalistic reputation, here is a direct quote from the Giants' managing director:
"Paul viewed the full-back role next year as being a battle between Aaron Murphy and Scott Grix, with Greg Eden behind those two." Like it or not, Eden was seen as 3rd choice. And Sandercock scarcely has better credentials and experience than Anderson. One full year, 10th place.
We can make this about McDonnell now Eden's place in the pecking order and Huddersfield's September form have proved a dead end for you. McDonnell is a SL fullback. We managed 6th without one for most of last season, so he can only improve us.”
by Bobbin_Robin
Saturday, December 08 2012, 8:32PM
“Fair enough, but the Huddersfield Examiner isn't really known for it's ground breaking sports journalism is it now...?
As for Anderson, he's more of a novice Coach than Gentle.......
On the bright side at least we dumped the "Hamster hearted" Sharon McDonnell on you......Enjoy him (when it's warm).......Lol....”
by Laura71
Saturday, December 08 2012, 8:26PM
“Bobbin_Robin
Here is your link: "But his chances became limited when Paul Anderson took over from Nathan Brown as head coach in July and the new boss revealed Eden would have been third-choice full-back behind Scott Grix and Aaron Murphy – which prompted the move."
http://tinyurl.com/bnamxz9
Huddersfield's September disarray? You mean like them smashing the champions 48-24 the week before on 9th September?”
by 2biscuits
Saturday, December 08 2012, 6:49PM
“Swannyred
Its not the HKR directors that are desperate for cash its the Club.
What they are trying to do is sell some or all of their shares to help finance the debt,including loans and keep the club running for a least another season.
I would also expect as they are business men that they will want some of the money for themselves to repay personal loans and release any personal guarantees which they no doubt will have.
You have to be realistic here.HKR as an investment is in Accounting terms a basket case.
You dont invest money into a basket case.You look at the accounts and throw them into the bin.”
by Bobbin_Robin
Saturday, December 08 2012, 5:43PM
“by Laura71Saturday, December 8 2012, 9:28AM
"Bobbin_Robin, I think it's unlikely the takeover would be delayed by Hudgell spending a fortnight laughing smugly about the coup that is the 3rd choice full back from a club systematically dismantled in the play-offs by Hull FC.......................
Firstly, having played 20+ games last Season and being described as "one of the shining talents in the English game" by League Express, I cannot see where your "3rd choice full-back" comes from....Perhaps you can provide a link..........
Secondly, the Giants were in such disarray in September my Mother could have "systematically dismantled" them........in fact as easily as Warrington blew you away a week later...
Thirdly, why are you so concerned ?
Jealousy is a very ugly emotion....Lol.....”
by PDPearson
Saturday, December 08 2012, 3:14PM
“Dr Slammer
Laura reminds me of the rovers obsessed mrs Barista on the RLFANS forum.
It would not suprise me if it was her”