Hull City’s ‘strange’ £55m loan beat Independent Football Regulator deadline
Hull City took a loan from an American billionaire whose previous hedge fund was fined $1.8bn for fraud and insider trading shortly before mandatory Independent Football Regulator scrutiny of such deals kicked in.
Following their promotion to the Premier League, Hull City secured a £55m loan against the club’s stadium from Point72 Lending Ltd, a company incorporated in January 2026 with just £1 in its accounts. It is a subsidiary of Point72 Asset Management, owned by Steve Cohen.
Cohen was never charged when his former hedge fund, SAC Capital, was accused of wire and securities fraud and insider trading, though in 2016 he was banned from managing outside money for two years. He launched Point72 to manage his family fortune, later expanding the fund when his ban expired.
Hull City owner Acun Ilıcalı obtained the loan from Point72 Lending in the summer, but it has now emerged tthat it was taken out before the IFR gained new powers in July to mandate approval of loans secured against a club’s stadium. There is no suggestion of wrongdoing on the part of Hull City.
According to reports, the Financial Conduct Authority turned down multiple Point72 applications to offer Cohen’s fund to UK investors, deeming him not “fit and proper” in 2018, before granting a licence in 2023.
“There are a restricted number of institutions willing to lend to football clubs, as traditional banks fear business and reputational risks if things go wrong,” football finance expert Kieran Maguire told City AM.
“[Hull City] borrowing from Point72UK Lending, a company set up in January with £1 of capital, does seem strange. Why a financier such as Steve Cohen would choose to invest in football is equally intriguing.”
The IFR declined to comment on a commercially sensitive financial matter.
Littler has the X-Factor
More than 55,000 people turned up for heats in London and Manchester for the chance to win £501,000 by taking on darts sensation Luke Littler in a live Netflix show.
After dipping their toe in sports content through documentaries, Netflix is turning its focus to live sport. A source close to the new programme said the Littler show demonstrated the streaming giant’s ambition to broadcast live sport in more innovative ways.
Rather than buying rights to existing darts competitions, Beat Luke Littler will initially be a one-off show in which 20 amateurs attempt to defeat the prodigy in a single leg of 501.
Hopefuls queued for over three hours in scenes reminiscent of X-Factor auditions, with Professional Darts Corporation chairman Barry Hearn posing for photos at the London heats.
Gary Lineker – fresh from signing a two-year deal for his The Rest is Football podcast to run on Netflix – will host, while author and game show presenter Richard Osman will serve as a data analyst.
Netflix set up a registration website and is said to have been blown away by how many showed up. The turnout gave the amateur players odds of around 2,750/1 of making the final show, airing on October 30. Still, those odds are an awful lot shorter than anyone beating Littler.
Saliva tests coming to Premier League
The scientists behind saliva-based testing at Borussia Dortmund and Bayer Leverkusen have opened a laboratory in west London.
Biolyz replaces blood tests involving needles with saliva swabs to assess biomarkers and monitor stress, recovery and performance. A 60-second swab can analyse up to 100 physiological markers linked to sleep, inflammation, hydration and immunity.
The company already operates labs in Germany and Austria, but is now working with Premier League and Championship clubs and has opened a new facility in the capital. Biolyz was founded by Marlon Millard, who has a master’s degree in chemistry from the University of Vienna, and has worked with stars including Jude Bellingham.
Southgate likes tackling Neets to England job
Former England manager Gareth Southgate has warned there is “no silver bullet” to solving the Neets crisis after travelling to the Netherlands with government tsar Alan Milburn this month.
The pair met business leaders and educators in Amsterdam to discover how the country has maintained the lowest level of young people not in employment, education or training in Europe.
Southgate described it as “a hugely complex problem for the UK” that reminded him of his roles – including as head of elite development and England manager – in making England competitive on the international stage.
When Southgate took over as England manager in 2016, he inherited a culture of rival club cliques, players not enjoying England duty and a disastrous record on the global stage. Which is probably not dissimilar to working in the Government right now.
“It reminded me of the challenge of getting England ready to win,” Southgate wrote of his Neets visit on LinkedIn. “There was no silver bullet. Improvement was required across the board; better talent pathways, no red cards, maximise set plays, more advanced data analysis, improved team spirit, a better connection to the fans.
“The list goes on. And I’m sure not everything in the Milburn Review will be met with universal popularity (a bit like my time with England at times!!). But I have seen firsthand the level of work, detail, research and diligence from Alan and his team that has gone into understanding the problem and identifying solutions.”
Let’s hope the nation’s youth will not have to wait as long as the England team for success.
Daniel Craig and Michael Carrick agencies united
Independent Talent Group, one of the UK’s leading talent and entertainment agencies, has acquired a major stake in Tongue Tied Media, the agency that represents Manchester United manager Michael Carrick.
ITG, whose clients include former 007 Daniel Craig and Gillian Anderson, is expanding its agency services into sport and has invested in the agency founded by Jo Tongue, whose company is considered a pioneer in women’s football. Tongue also sits on the Women in Football board, while TTM also represents former England midfielder Jill Scott.
Sources close to the deal told City AM that TTM will continue operating as normal, but the investment will provide the experience and expertise to scale growth while expanding ITG’s reach in sport.
“Joining forces with ITG gives our team and clients access to a broader network across entertainment and global commercial partnerships, while preserving the spirit, culture, and personal approach our clients value,” Tongue said.
“With the backing, scale and network of ITG, we can create bigger opportunities for our clients and our people, as part of ITG’s wider ambition to build a leading sport and entertainment group. Together, we are uniquely positioned to lead the next era of growth across sport and culture.”