Hull set to clear old Premiership debts
Championship Hull City will finally clear a backlog of old transfer debts from their two seasons in the Premier League next month reports the Hull Daily Mail . Just £200,000 is now outstanding to clubs and agents relating to a string of signings during the days of Russell Bartlett's ownership.
New owners Assem and Ehab Allam, who ploughed £40m into the club last December to save it from administration, have been fighting a battle to balance the books ever since.
Chief executive Mark Maguire admits it has been a long and costly process.
"There will have been £10m in cash spent by the Allams between January and next month on settling old debts for players and agents alone," he told the Mail.
"Now, we are in a position where we have just £200,000 to pay off on players from the past, so we have almost done it.
"It should also be remembered that alongside this, there has been a further commitment of £6m from the Allams on new players and agent fees, a total of £16m."
The Mail understands the payments over the past nine months have related to a string of players from the Premier League era, many of whom are no longer at the club.
At an outlay of £5m, Bullard remains the club's most expensive signing in the Tigers' history.