NEWS – City to buy the Ark

Having just been evicted from Boothferry Park for non-payment of rent, City are set to buy the ground and the car park from current owner David Lloyd. He has accepted a £1.4m bid from the board, and is to sever all links with sport in Hull, probably to his immense relief. The price of £1.4m is his previous asking price, £1.3m, plus the unpaid rent, currently £103,000. Despite this move, the winding up order over the unpaid rent has not been removed, but Lloyd has altered his demands, allowing City to pay in two instalments. The first, due in seven days, is a deposit for £400,000, with the remaining £1m due in four weeks. The purchase of the stadium will leave the Council in a quandary. The new Council-built stadium cannot proceed without Hull City’s involvement, but City now have either a potent bargaining position, or the ability to strike out on their own by redeveloping Boothferry Park.