Hull FC takeover close to completion as £500 million consortium embark on new era

Hull FC are on the cusp of a new era as a complete takeover of the club nears completion. Yorkshire businessmen Andrew Thirkill and David Hood OBE, who have a combined wealth in the region of £500 million, have entered a period of exclusivity to finalise the takeover, which will see them assume one-hundred percent ownership of the club.

For months, Thirkill's involvement has been widely rumoured but the addition of Hood, one the most successful people in the tech sector, is set to make Hull FC one of the wealthiest clubs in Super League. Current chairman Adam Pearson has publicly addressed the need for new investment over several years and it has now come in emphatic fasion.

Upon completion, Thirkill will become chairman of the club. He has links to the club's director of rugby, Richie Myler, who is the partner of his daughter, Stephanie.

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In a lengthy statement, Pearson outlined his position, confirming that he would remain at the club in a consultancy capacity.

He said: “After positive and detailed investment discussions, I am delighted to announce that the club has entered into and agreed an exclusivity period with successful Yorkshire businessmen Andrew Thirkill and David Hood OBE.

“This will allow them to complete the process of the transfer of one-hundred percent ownership of Hull FC in an orderly manner. Andrew is the Chairman of Age Partnership and Pure Retirement; David was joint founder of Pace PLC and is the Chairman of private aviation company Multiflight at Leeds Bradford Airport."

Talks over transfer ownership of the club have been ongoing in the background throughout the last six months, but have only come to real fruition in the past month as the parties agreed on a full takeover rather than an investment of funds into the club.

As part of those discussions, Pearson says the new consortium has committed to ensuring the club will regain Grade A status under IMG's scoring system, having lost the status this year. It comes after years of poor on-field performance.

He said: “The new owners have committed to provide sufficient funding to allow the club to regain its Grade A status, and provide the club with a new management structure and team to improve its ranking in that grade.

“I will be delighted to hand over the reins to Andrew as the club’s new Chairman - his love for the sport of rugby league and passion for success provides a perfect combination for the club to thrive once more under his leadership and guidance; emphasised by his long-standing position as Club President of Leeds Rhinos, along with an outstanding business career over many years."

Pearson added: “After thirteen years of ownership, it has been critically important to me to transfer the club into the right hands, and this event certainly ticks all those boxes. I will continue to assist the new board in business matters in relation to the club in a consultancy capacity. Director of Rugby Richie Myler will continue to control all playing matters, and our coaching and performance departments.

“This change of ownership heralds a bright future for Hull FC. We need all of our supporters to rally together to restore unity and pride in our famous club. The club will again have a powerful board to enable the team to compete at the right end of Betfred Super League.”

Thirkill, as well as Pearson, are expected to attend the Fans Forum being held at the University of Hull this evening.