Ownership
The club is owned by IOR Ltd (Increased Oil Recovery), an Aberdeen based oil company, who purchased it from Harold Hornsey in 1997. Despite initial scepticism from fans towards a company with no links to either the town or football, the relationship has proved a successful one for the club, and has provided it with financial stability. The period has seen substantial investment in the stadium, and IOR have spent over £10 million on the club. According to The Northern Echo the club is "effectively subsidised by owners Increased Oil Recovery by about £1m a year."
Hartlepool United FC is legally registered in the British Virgin Islands so that untaxed income can fund the club and foreign players can enjoy lower income tax.
Read more about this topic: Hartlepool United F.C.
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