Hull City’s ‘strange’ £55m loan was approved by Independent Football Regulator
The Independent Football Regulator approved a Hull City loan from an American billionaire whose previous hedge fund was fined $1.8bn for wire and securities fraud and insider trading, City AM can reveal. In July following their promotion to the Premier League, Hull City secured a £55m loan against the club’s stadium from Point72 Lending Ltd, [...]
In July, Hull City secured a £55 million loan from Point72 Lending Ltd, a subsidiary of Point72 Asset Management owned by American billionaire Steve Cohen. Cohen's former hedge fund, SAC Capital, was accused of insider trading but never charged; he was banned from managing outside money for two years in 2016. Hull City owner Acun Ilicali obtained the loan in the same month the Independent Football Regulator (IFR) gained new powers to approve loans secured against a club’s stadium.
The IFR approved the transaction, deeming it did not jeopardize the club's financial sustainability. Hull City's loan from a company founded in January 2026 with just £1 in its accounts raises questions about the financier's investment motives.
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