Source: Telegraph
Hull City to sell season tickets to agency to ease debt worries
The club have agreed to sell 6,800 tickets for next season and 7,000 tickets for the 2011-12 campaign sold to London-based agency Ticketus at a total price of £3.92 million. [LNB]It is unclear whether Hull will receive the money from Ticketus up-front, easing their significant financial difficulties, or whether the payments will be staged. [LNB] Related ArticlesHull settle dispute with DuffenArsenal and Hull fined over ugly scenes at EmiratesHull may settle with Duffen out of courtBoateng tips Cairney for England glorySport on televisionSignificantly the deal specifies individual prices for season tickets that appear to be lower than the price presently charged for Premier League season tickets. This would allow Ticketus to profit from a margin on the tickets, but could also allow Hull to benefit from the deal in the event of relegation. [LNB]Disclosure of the season-ticket deal, detailed in documents filed at Companies House this week, emerged as Hull face an anxious close to the season and a series of matches, starting with Arsenal at home on Saturday evening, that will have a huge bearing on the club's future. [LNB]The club have become reliant on owner Russell Bartlett for survival and face significant financial pressure even if they avoid relegation to the Championship. [LNB]In the club's accounts for the 2008 season, the most recent available, auditors Deloitte warned that Hull would need to raised £16 million to remain a going concern if they retained Premier League status this season. [LNB]Should they be relegated the auditor warned that they would have to raise a total of £23 million to meet their existing liabilities. [LNB]The accounts refer to the club's last Championship season and their circumstances may have changed significantly since then, but the auditor's warning underlines the financial pressures at the KC. [LNB]It is understood that Bartlett, who was only confirmed as the club's owner last autumn following a welcome change in Premier League rules, has lent Hull about £7 million this season. [LNB]The club have also been locked in dispute with former chief executive Paul Duffen, who was suspended in October last year. He was removed by chairman Adam Pearson after he was alleged to have accepted irregular payments from agents. [LNB]In a writ lodged at the High Court Hull claimed that Duffen had accepted payments from agents in exchange for favouring them with transfer business, and had also used club money for personal expenses. Last month Duffen reached an out-of-court settlement with the club. [LNB]Arsène Wenger accepts it will take a "miracle" for Arsenal captain Cesc Fabregas to be fit to face Hull. [LNB]The Spain midfielder missed the midweek Champions League victory over Porto because of the hamstring problem which had seen him hobble out of the win against Burnley last weekend. [LNB]"His chances of playing are 0.5 per cent that means unless a miracle happens, he will not play," Wenger said. [LNB]
