Hull City chairman Paul Duffen is convinced they can take advantage of the global economic downturn in the transfer market.

He told the Yorkshire Post: "We have had a truly amazing 2008 and it will be a wonderful challenge to maintain that progress next year.

"It is a wonderful challenge to have and I am delighted to be going into 2009 without the crises that seem to be afflicting other clubs in terms of debt levels.

"Some could be having trouble with refinancing plans in the near future, meaning they will have to raise funds in other areas - namely by selling players.

"There will be clubs who have to sell players to make ends meet during what is an uncertain time and I am sure there will be a ready supply of available talent. But, just like in the High Street sales, something being for sale at a reduced price does not necessarily mean it is a sensible purchase.

"That is why, at Hull City, we will be prudent in everything we do during the transfer window. That was our approach last summer and it has served us well.

"There have been several clubs with big budgets who have been quite wasteful in the January transfer window, often acting out of desperation.

"Sunderland have spent something like £72m in the last three transfer windows and the question has to be how much of that can be considered to be true value for money?"