Wadski wrote:
Stadium is part owned by HSPL (60%) and KMC (40%). This was originally 20%, 40%, 40% to Giants, HTAFC and KMC respectively.
KD wanted to isolate the debts of the stadium from the clubs so moved the shared into HSP limited (which was the old Huddersfield Giants Rugby League Limited company before a rename - this confused many people into thinking he gave the shares for Hudds Town to the Giants). This is a legitimate business practice and stops the rugby and football club being liable should the Stadium go bankrupt.
When he gave up Huddersfield Town to the new guy I am guessing the deal was he walked away but remained funding the club for a further two years in exchange for the shares in the stadium which remain in HSP. I am guessing they will have an option to purchase them back should they wish.
KD wanted to isolate the debts of the stadium from the clubs so moved the shared into HSP limited (which was the old Huddersfield Giants Rugby League Limited company before a rename - this confused many people into thinking he gave the shares for Hudds Town to the Giants). This is a legitimate business practice and stops the rugby and football club being liable should the Stadium go bankrupt.
When he gave up Huddersfield Town to the new guy I am guessing the deal was he walked away but remained funding the club for a further two years in exchange for the shares in the stadium which remain in HSP. I am guessing they will have an option to purchase them back should they wish.
Cheers for that. Still a bit guessing in there though.
