Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Hull face administration if relegated

Thu 15th Apr 2010 | Football Club Administration

HULL City face the prospect of administration should they be relegated.

According to a football finance expert speaking to the Hull Daily Mail unless they can secure Premier League survival, the club looks set to suffer a summer of financial woe.

Until now, Hull have refused to discuss the possibility of going into administration, with club owner Russell Bartlett determined to trade through any financial difficulties.

However, without another year of Premier League television money, it is understood the scale of the club's debts – and a mammoth £38.9m wage bill – will make it difficult for the club to continue operating.

"I think the only thing I can say at present is that it is very difficult for me to discuss our financial situation in public at present, other than to say there is nothing that can be ruled out," Mr Pearson admitted.

"It is a difficult balance between scare-mongering and understanding the full scale of the club's financial position."

Football finance experts and well-placed sources appear to agree that administration looks a real possibility should City go down.

Following auditors Deloitte's predicting a £21m shortfall should City lose their battle for top-flight survival, and with the Tigers' position looking ever more perilous, we approached a highly-regarded football finance expert who followed Portsmouth's demise into administration closely this season.

City's latest published accounts – which detailed the club's finances to July 2009 – showed the club owed £4.6m to banks, £4.5m in taxes and a further £14.6m to "trade creditors" at that time.

Of those creditors, £12.8m related to money still owed to other clubs for players presently playing for Hull.

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Notts County Ladies Folds Following Huge Debts

Fri 21st Apr 2017 | Football Club Administration

Notts County Ladies Football Club have folded after Alan Hardy admitted defeat in his bid to save the club which faced a near-£1million bill to stay afloat this season. The Notts County chairman...

Bolton Wanderers Sell Training Ground To Wigan

Fri 19th Feb 2016 | Football Club Administration

Bolton Wanderers have today confirmed the sale of its Euxton training ground to ‘another North West football club’. The Championship club have debts totalling £172.9m and are...

Northampton Town Application For Administration Withdrawn

Fri 11th Dec 2015 | Football Club Administration

Northampton Town Football Club has confirmed that the application for administration has been officially withdrawn. Legal agreements had been reached this week between the club and Northampton Borough...

HMRC Hands Bolton Wanderers Winding Up Petition

Thu 10th Dec 2015 | Football Club Administration

Bolton Wanderers have been handed a winding up petition by HMRC it’s been confirmed. The club, who are currently bottom of the SkyBet Championship, have debts of over £170m and have failed...