Hull’s owner Acun Ilicali, the Turkish businessman, has accepted that promotion came on the back of an overspend last season to raise questions over their compliance with Profitability and Sustainability Rules (PSR). He told a fans’ forum this month there is a need to raise £6million before the financial year is out. That leaves Hull with seven days to raise the necessary funds or run the risk of being handed a points deduction in their first season back in England’s top flight. In a word, Hull’s situation is precarious. This coming season ushers in a new era of financial controls in the Premier League through Squad Cost Rules (SCR) but all 20 clubs are first assessed for the final time through the Profitability and Sustainability Rules (PSR). Hull are permitted to lose £39 million after allowable deductions over the three-year monitoring period as an EFL club and without action over the next week, there is forecast to be a breach.The numbers that are currently available, coverin...
Manchester United have secured the majority of the land required to build a new 100,000-seater stadium to replace Old Trafford. The club announced on Monday it has acquired a 25-acre site north west of the current stadium from Indurent, an industrial warehousing company. The land is located around 350 metres away from Old Trafford’s existing site — between Wharfside Way, Europa Way and John Gilbert Way. The acquisition means that United no longer require land owned by Freightliner, a rail logistics company, located directly to the west of Old Trafford.Freightliner were demanding around $400million (£301.8m) for the land, substantially higher than United’s projected price of around £50m. The acquisition marks a change from initial designs unveiled by United and architects Foster + Partners last year, which located the new stadium adjacent to the existing site. United said they do not anticipate issues acquiring the remainder of the land required by the new st...