Pearson managing to reduce Hull City debt

Hull City chairman Adam Pearson has managed to reduce City's bank debt from more than £15million to £4.6m since returning to the club last year.

However, the Tigers will still face a funding shortfall of £21m should they lose their Premier League status, auditors have again warned, says the Daily Mail.

Details of the club's present financial position were revealed in the latest set of filed accounts to Companies House.

They made nearly £2m operating profit in the year of their first top-flight campaign but ended the financial period with bank debts of more than £15m.

That was a figure Pearson immediately stressed had to be reduced when he returned to the club and he has done just that, making a series of repayments, initially of £7m and most recently of £2m in both January and February, to reduce debt to £4.6m.