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Hull owner defends bridging loan

Football finance guru Kieran Maguire expressed concern about a bridging loan taken out by Hull City.  The owner has now offered an explanation.  Stadium upgrades were necessary over the summer to meet Premier League requirements.  Moreover, interest rates in the UK are around seven per cent for a loan compared with 40 per cent in the owner's home country of Turkey: https://www.hulldailymail.co.uk/sport/football/transfer-news/acun-ilicali-hull-city-loan-11057334

There is also a tension between the club's growth ambitions and regulatory compliance: https://cryptobriefing.com/hull-city-premier-league-200m-budget/

The rules pose more challenges for a promoted club like Hull and some analysts seem them as a means to protect the elite status of existing top clubs.

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