Hull desperate to cut wage bill

Hull's board will continue to meet throughout the week in an attempt to address the club's perilous financial problems.

The Tigers are £35million in debt and facing an uncertain future with relegation from the Barclays Premier League now all but confirmed.

Chairman Adam Pearson met with fellow directors yesterday to discuss City's options, which might include going into administration.

Seeking to enter into a Company Voluntary Arrangement is another possibility but both of those solutions could incur a 10-point penalty in the Coca-Cola Championship next season.

Pearson suggested at the weekend that a CVA might be a sensible route, although owner Russell Bartlett has offered hope that a way to "trade through" the problems can be found.

To do that City would drastically need to reduce their reported £39million wage bill.

Major restructure and a fire sale of high-earning players now seem inevitable in the summer.

Bartlett said: "We must now get down to concentrating on reducing the wage bill to about £15million in the Championship to establish financial viability and stability.

"Subject to this, I anticipate we will be very competitive next season."

Pearson had little success in his attempts to offload a number of fringe players in the January transfer window.

Now a number of senior names are likely to be put up for sale such as Stephen Hunt, Jimmy Bullard, Geovanni, Anthony Gardner, Kamil Zayatte and Jan Vennegoor of Hesselink.

Hull actually rebuffed interest in Hunt in January in the hope he could help keep them up only for injury to rule him out from late February.

Hunt is contracted for another three years, as is £5million record signing Bullard, who reportedly earns a crippling £45,000 per week.

Hull's relegation from the top flight after a two-year stay was effectively settled by a 1-0 loss to Sunderland on Saturday.

The result left them six points adrift of safety and with a hugely inferior goal difference to West Ham with just two games remaining.

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

Turkey's conflict with Kurdish guerrillas in Iraq can benefit Isis in Syria

Turkey's conflict with Kurdish guerrillas in Iraq can benefit Isis in Syria

Turkish President Erdogan could benefit politically from the targeting of the PKK, says Patrick Cockburn
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn or a return to a Labour government

Our choice is years of Tory rule under Corbyn or a return to a Labour government

Yvette Cooper urged Labour members to 'get serious' about the next general election rather than become 'a protest movement'
Singapore's domestic workers routinely exploited and often abused in the service of rich nationals

Singapore's hidden secret of domestic worker abuse

David Cameron was shown the country's shiniest veneer on his tour. What he didn't see was the army of foreign women who are routinely exploited and often abused in the service of rich nationals
Showdown by Shirley Jackson: A previously unpublished short story from the queen of American Gothic

Showdown, by Shirley Jackson

A previously unpublished short story from the queen of American Gothic
10 best DSLRs

Be sharp! 10 best DSLRs

Up your photography game with a versatile, powerful machine
Solved after 200 years: the mysterious deaths of 3,000 soldiers from Napoleon's army

Solved after 200 years

The mysterious deaths of 3,000 soldiers from Napoleon's army
Every regional power has betrayed the Kurds so Turkish bombing is no surprise

Robert Fisk on the Turkey conflict

Every regional power has betrayed the Kurds so Turkish bombing is no surprise
Investigation into wreck of unidentified submarine found off the coast of Sweden

Sunken sub

Investigation underway into wreck of an unidentified submarine found off the coast of Sweden
Instagram and Facebook have 'totally changed' the way people buy clothes

Age of the selfie

Instagram and Facebook have 'totally changed' the way people buy clothes
Not so square: How BBC's Bloomsbury saga is sexing up the period drama

Not so square

How Virginia Woolf saga is sexing up the BBC period drama
Rio Olympics 2016: The seven teenagers still carrying a torch for our Games hopes

Still carrying the torch

The seven teenagers given our Olympic hopes
The West likes to think that 'civilisation' will defeat Isis, but history suggests otherwise

The West likes to think that 'civilisation' will defeat Isis...

...but history suggests otherwise
The bald truth: How one author's thinning hair made him a Wayne Rooney sympathiser

The bald truth

How thinning hair made me a Wayne Rooney sympathiser
Froome wins second Tour de France after triumphant ride into Paris with Team Sky

Tour de France 2015

Froome rides into Paris to win historic second Tour
Fifteen years ago, Concorde crashed, and a dream died. Today, the desire to travel faster than the speed of sound is growing once again

A new beginning for supersonic flight?

Concorde's successors are in the works 15 years on from the Paris crash