Hughes was accused of making himself available for other jobs - something he has consistently denied - after piloting Fulham to eighth place and qualification for the Europa League in 2011.
He said: "It was a different situation at Fulham. There was a lot of change going to happen, and that included the ownership.
"I felt that might affect my position as well. That's the key difference. The ownership here is unlikely to change any time soon."
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