Hull owner Allam quit threat if FA reject name change
Wednesday 15 January 2014
Hull City owner Assem Allam has declared he will step down from the club if the Football Association refuses his application to change the club’s name to Hull Tigers, according to The Guardian.
The 74-year-old has formally applied to the FA to rebrand the club the Hull Tigers which he believes will be an important step in making the club more attractive around the world, but the decision has sparked several protests.
"I'm here to save the club and manage the club for the benefit of the community. It will never, never be the other way round – that the community manage it for me. But if the community say go away, I promise to go away within 24 hours,” said Allam.
The Egyptian-born owner gave the FA an ultimatum that he would walk away from the club if they rejected his project proposal.
Fan’s protest group, City Till I Die, has opposed the change of a name the club have had since 1904, in fear that Allam will withdraw his financial backing of the club but said: " (We) Remain confident that the FA will make the right decision, and protect the heritage and traditions of Hull City AFC, and those of other clubs whose identities may come under threat."
Since taking over the Tigers in December 2010, Allam has pumped £75 million into the club and the side is heavily indebted to him, should he walk away, given that sis company loans were up to £72m by the end of July 2013, and were charged at an interest rate of 5%.
His initial £41m investment, coupled with the club's £26m wage bill, meant that Hull reached the Premier League having lost £26m.
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