Hull back on an even keel
Submitted by WG on Sat, 14/08/2010 - 09:00
Hull City's financial situation caused great concern last season with fears they might have to go back into administration. However, their chairman claims that they are now financially stable again.
One crucial piece of surgery has been to reduce their annual wage bill from £34m to a much more manageable £16m. Their bankers have agreed to give them two more years to pay off an outstanding loan. Other creditors have also extended payment terms.
