Hull FC owner Adam Pearson makes call for investment to help club compete with Super League elite

The Black and Whites have won the Challenge Cup three times in the summer era but their 2006 Grand Final appearance is as close as they have got to success in the league.

Hull's recent decline has coincided with a damaging post-Covid period for the club financially, although Pearson is confident they will reach a break-even position by the autumn.

Pearson, who took sole control in 2011, is ready to welcome investors on board to make up for the shortfall in revenue and push the Black and Whites forward after seeing rival clubs benefit from cash injections.

"When you look at the combined losses across Super League last year, which were circa £10-12million, it shows that the decline in broadcast revenues are really starting to bite and that clubs are going to be dependent on the shareholders to inject the funding that's disappeared from the game over the last four to five years," he told The Yorkshire Post.

"To be facing a £1.25m central distribution as against £2m five years ago, it's a stark reminder of the work we need to do in the game.

"Clubs are trying to bring in a more widespread shareholder base so that funding can be spread across the board to compensate for the drop in central revenues.

"We've seen big examples of this at Wigan, Hull KR and even this week at Huddersfield Giants where they're strengthening their board.

"It's something that's right at the forefront of my mind. This club is unique in as much that it's one of the few in Super League that could make a profit – but that would be by operating to cap on wages.

"Most clubs now are above cap with three marquees, exemptions, rugby union etc. Three or four clubs will be spending half a million a year more on their players.

"To really compete with clubs like Wigan, St Helens and Leeds, we're going to have to try and attract some investment."

Pearson has previously stated that Hull must negotiate a new lease on the MKM Stadium and ease their debt, which includes a government loan repayment, to be in a position to attract investors.

The 59-year-old is increasingly confident of securing a long-term extension of the lease, which is due to expire in 2027.

"I'm very hopeful because I think both the council and the stadium management company are keen to see rugby league continue in this stadium," he said.

"I'm sure it will happen, it's just when. We have a verbal commitment from both parties that we will be going forward here but some investors would prefer to see a long lease.

"The balance sheet, Covid loan and lease together do on one hand make gaining external investors tricky but on the other hand, Hull FC is generally one of the few clubs with the potential to stand on its own two feet, compete at the top and ultimately make a profit.

"What I would say to investors is that with this club, you have got a genuine chance of getting a return on your investment because of the size of crowds that it could generate with consistent success.

"Two or three people have joined the Hull KR board and they obviously have freehold of the stadium which is an attractive proposition.

"I still think there is big potential at Hull FC but maybe it just needs a couple of investors on board from the local Hull and East Riding community to see if we can really hasten our progress back to the top."

Wakefield Trinity and Castleford Tigers are among the other clubs to have benefited from fresh investment in recent months.

Local businessman Matt Ellis completed a full takeover of Wakefield, while lifelong supporter Martin Jepson took a 32 per cent share in Castleford.

Pearson is open to both eventualities ahead of his 13th full season at the helm in west Hull.

Asked if he would be receptive to a full takeover, he replied: "For sure, if it's in the best interests of the club and they can show that they can fund it better than I can or in conjunction with myself.

"We need to share the burden around. For any club in any sport to be dependent on one shareholder is difficult and dangerous in the current climate.

"We are actively looking to attract investors to take equity in the club. It would certainly be nice to share some of the responsibility at the sharp end on a day-to-day basis with equity shareholders who share a vision for the club.

"If that transmits itself to one person saying, 'Adam, I'm happy to put my money in but I want a majority share', come and talk definitely. We're open to all kinds of investment, whether it's smaller chunks or larger chunks."

Hull have drifted out of play-off contention since their last appearance in 2020 with consecutive finishes of eighth, ninth and 10th.

Despite the recent difficulties on and off the field, Pearson's hunger has not diminished.

"Not at all," he added.

"I'm really looking forward to this season. We've got a new team and the first game against Hull KR whets the appetite.

"The club is ready to go but to fuel inject it, it possibly needs a bit of assistance, as other clubs are doing, in taking on additional shareholders."