With Hull FC negotiating a 10 year EBT tax bill of 2 million with HMRC to 1 million I'm not naive enough to think that Rovers have avoided any EBT debt but what sort of amount could we possibly be looking at for Rovers. Was EBT a loophole that was closed, if so when did it actually close? We joined the ESL in 2007 and the EBT story started to break in 2010 so will we be affected for only 3 years?

Don't worry about it mate. Owing the best part of £2M to the tax means you are "running at a pwofit" as James Rule says and having a robust business model as Mrs Barista says

Surely you mean "wunning at a pwofit"?

Closed in April this year but being applied retrospectively; we don't really have any info on how many clubs are involved but James Smailes said this week that pretty much all clubs were involved to some extent, and for Premiership football clubs the liabilities run into multimillions. The other outstanding tax point is on image rights where I think Leeds are still fighting a test case. Difficult time all round, but as you say, all other things being equal, Rovers exposure should be less.

ahh james smailes says..... it must be twue then!

As I am banned "sine die" on your boards for running rings round Paul M and making him look a fool,perhaps you can explain why some of your fans imagine that AP paid any money to take over the club. You must realise as an accountant, that a business with no fixed assets and with a potential £2million tax bill would not be worth a copper coin and the only deal open to the directors responsible is an offer to take over for say a penny and to take over the aforementioned substantial debts.

p.s. Taxi for Smales maybe?

Stoppit Stoppit you know the Coffee Cup will be on spouting some usless information about temperature rise in a tree stump on the Pitcairn Islands negating any wrongdoing in the hallowed halls of the KFC accounting department more formally known as the Imaginarium of Mrs B

A few points on this. You seem to be saying that AP paid £0 for FC. "It cost a significant amount of money," Adam Pearon told BBC Radio Humberside. "And there are obviously more funds to go into the club." "Significant" is a subjective term, and I've not seen the transaction documentation. But there is the small matter of "goodwill" to be considered as part of any acquisition. Pretty basic stuff, but never mind.

I'm not entirely sure what your point is here, as I think we are agreeing. I said that without AP sorting the tax liability out, IMO the club might have gone to the wall as the outgoing directors probably had little appetite to deal the issue, certainly not as proactively as Pearson thankfully seems to be doing. Pearson was well aware of the tax issue on acquiring the club; indeed it was something he mentioned very early on. I suspect we may also be facing further liabilities if there is a ruling against Leeds Rhinos in the image rights case.

As for the "taxi for Smailes" comment, I guess here you are implying that Smailes is incorrect in saying other clubs and sports are affected. Do you mean that FC are the only club in British sport to be impacted? Right, that does make the outgoing board look rubbish, then. Even more glad that Pearson's on the front foot to halve the potential liability. Lucky us.

Not sure how this helps address Easty's question. As usual, I'm the only one trying to provide relevant information.

Gosh, you're sailing close to the wind this morning. Are you saying there has been financial "wrongdoing" at FC? You do know that this liability arises from a change in the tax rules that is being applied retrospectively, don't you? Oh dear.

Perhaps you might want to address Easty's initial question, rather than trying to de-rail the thread.

=#FF0000without AP sorting the tax liability out, IMO the club might have gone to the wall
So was it a take over or a bail out?

I would think that being told of a large tax bill would cover AP's comments about a "significant" amount of money wouldn't you. Just for the record, how would you value it. I will stand by my original statement that about a penny would cover it having done due diligence, wouldn't you? As to good will, name a RL club that has ever made a substantial profit. Let's be honest, I love the game but I know where it stands in terms of financial strength. I am not saying about the purchase price to be vindictive, only realistic!