Hull owner confident over club's future

Hull owner Russell Bartlett has claimed the club can "trade through" their current financial difficulties.

The cash-strapped Tigers, £35million in debt, face an uncertain future due to their impending relegation from the Barclays Premier League.

A player fire sale and a major restructure is now likely over the summer as City seek to readjust for life in the Coca-Cola Championship.

There have been reports the club could go into administration and chairman Adam Pearson has admitted entering into a Creditors Voluntary Arrangement is a possibility. Both options would incur a 10-point penalty next season.

The board are due to meet today to discuss the crisis but Bartlett believes another route can be found.

Bartlett told the Hull Daily Mail: "We face a tough period to trade through the transitional period and readjust the business to life in the Championship, but I am confident we can do that.

"We are presently preparing plans to trade through and within that process is to significantly lower the wage bill and potentially to restructure other liabilities."

Hull were issued a stark warning by their auditors earlier this season that, with their current liabilities, relegation could seriously threaten their ability to continue as a going concern.

Demotion from the top flight after a two-year stay was all but confirmed on Saturday as Hull were beaten 1-0 by Sunderland at the KC Stadium.

Hull are now six points adrift of safety with just two games remaining and a hugely inferior goal difference.

Pearson has already made a number of cuts since returning to Hull for a second term last November but his priority will now be to offload a number of high-earning players.

Pearson largely failed in his attempts to attract interest in several fringe players in the January transfer window, but notably turned down bids for key player Stephen Hunt.

That stance may now change and other senior players such as Jimmy Bullard, Geovanni, Anthony Gardner, Kamil Zayatte and Jan Vennegoor of Hesselink are likely to be put in the shop window.

The situation is a far cry from last summer when former chairman Paul Duffen and ex-manager Phil Brown spoke openly of their attempts to sign the likes of Michael Owen and Bobby Zamora.

Pearson made some forthright remarks last week about the financial recklessness of Duffen's tenure, particularly after winning promotion to the Premier League in 2008.

Interestingly, however, he also raised the possibility of reinstating Brown as manager. Brown was relieved of his duties last month and replaced by Iain Dowie but remains on gardening leave.

With Dowie only on a short-term deal, it could be the cheapest option.

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
Independent Dating
and  

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

Day In a Page

John Palmer: 'Goldfinger' of British crime was murdered, say police

Murder of the Brink’s-MAT mastermind

'Goldfinger' of British crime's life ended in a blaze of bullets, say police
Forget little green men - aliens will look like humans, says Cambridge University evolution expert

Forget little green men

Leading evolutionary biologist says aliens will look like humans
The Real Stories of Migrant Britain: An Algerian scientist adjusts to life working in a kebab shop

The Real Stories of Migrant Britain

An Algerian scientist struggles to adjust to her new life working in a Scottish kebab shop
Bodyworlds museum: Dr Gunther von Hagens has battled legal threats, Parkinson's disease, and the threat of bankruptcy

Dying dream of Doctor Death

Dr Gunther von Hagens has battled legal threats, Parkinson's disease, and the threat of bankruptcy
UK heatwave: Temperature reaches 39.8 degrees on Central Line - the sweatiest place in London

39.8 degrees recorded on Tube

There's hot (London) and too damn hot (the Underground). Simon Usborne braved the Central line to discover what its passengers suffer
Kitchens go hi-tech: From robot chefs to recipe-shopping apps, computerised cooking is coming

Computerised cooking is coming

From apps that automatically make shopping lists from your recipe books to smart ovens and robot chefs, Kevin Maney rounds up innovations to make your mouth water
Jessie Cave interview: The Harry Potter star has published a feminist collection of cartoons

Jessie Cave's feminist cartoons

The Harry Potter star tells Alice Jones how a one-night stand changed her life
Football Beyond Borders: Even the most distruptive pupils score at homework club

Education: Football Beyond Borders

Add football to an after-school homework club, and even the naughtiest boys can score
10 best barbecue books

Fire up the barbie: 10 best barbecue books

We've got Bibles to get you grilling and smoking like a true south American pro
Wimbledon 2015: Nick Bollettieri - Junk balls and chop and slice are only way 5ft 1in Kurumi Nara can live with Petra Kvitova’s power

Nick Bollettieri's Wimbledon Files

Junk balls and chop and slice are only way 5ft 1in Kurumi Nara can live with Petra Kvitova’s power
Ron Dennis exclusive: ‘This is one of the best McLaren teams ever – we are going to do it’

‘This is one of the best McLaren teams ever – we are going to do it’

Ron Dennis shrugs off a poor start to the season in an exclusive interview, and says the glory days will come back
Seifeddine Rezgui: What motivated a shy student to kill 38 holidaymakers in Tunisia?

Making of a killer

What motivated a shy student to kill 38 holidaymakers in Tunisia?
UK Heatwave: Temperatures on the tube are going to exceed the legal limit for transporting cattle

Just when you thought your commute couldn't get any worse...

Heatwave will see temperatures on the Tube exceed legal limit for transporting cattle
Exclusive - The Real Stories of Migrant Britain: Swapping Bucharest for London

The Real Stories of Migrant Britain

Meet the man who swapped Romania for the UK in a bid to provide for his family, only to discover that the home he left behind wasn't quite what it seemed
Cheaper energy on the way, but it's not all sunshine and rainbows

Cheaper energy on the way, but it's not all sunshine and rainbows

Solar power will help bring down electricity prices over the next five years, according to a new report. But it’s cheap imports of ‘dirty power’ that will lower them the most