Bartlett assures fans Hull is not heading into administration
Tue 3rd Aug 2010 | Money & Finance
Russell Bartlett the owner of Hull City AFC has moved to reassure fans that the club are not heading into administration.
Since relegation from the Premier League, the cash-strapped club have been working to reduce their debts for some time with a number of higher wage-earners leaving the KC Stadium this summer.
Having spent two seasons in the Premier League, the East Yorkshire club will now have to adjust life in the Championship where TV and sponsorship revenues are much less. However, they will receive parachute payments from the Premier League which will help to soften the blow of relegation.
But Bartlett insists that while hard work is continuing behind the scenes to ensure their financial health, the shadow of administration is not looming over the club.
He told the Hull Daily Mail: "I can categorically state that administration is simply not on the agenda.
"We are well down the line in our plans to restructure the finances of the club and we are very close to meeting our targets."
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