Hull City landed in 6th place in the Championship and after qualifiers, espionage and more spending of money than allowed, they are back in the Premier League.
The club has “spent too much money” and must secure player sales before July 1, otherwise punishment awaits.
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Premier League club Hull City must sell players before a strict deadline of July 1 to avoid possible sanctions. This is revealed by the club’s owner, Acun Ilicali. The Tigers were promoted to the English top flight after beating Middlesbrough 1-0 in the Championship play-off final at Wembley.
Hull were imposed a transfer freeze with a payment ban already last summer, and therefore had to rely solely on free transfers and loans. – It’s going to be tough!!
Still, the team under manager Sergej Jakirovic defied all predictions before the season – and eventually finished sixth in the Championship. Top scorer Oli McBurnie hammered in 18 goals.
The 30-year-old Scot also scored the only goal of the game in the 95th minute of the play-off final, securing promotion for Hull.
But before the Tigers can focus on new purchases ahead of their return to the Premier League, they must first and foremost sell value.
‘We have spent too much money’ – Hull City’s owner issues statement
On Tuesday morning, there were reports that Hull need to raise around £6 million through player sales – to avoid a possible breach of Financial Fair Play (FFP) rules.
Although the Tigers will earn significant sums of money by playing in the Premier League, FFP is calculated over a three-year period that does not take into account these new revenues.
While £6 million may sound like a relatively small sum for most Premier League clubs, Hull played in League One as recently as the 2020/21 season. In addition, as mentioned, they were unable to spend transfer fees on new players last summer – meaning their squad is smaller than at many other clubs.
On Tuesday, owner Ilicali (according to the Yorkshire Post) confirmed that the club has “spent too much money” and now has to sell players. However, he is confident that they can raise the funds without letting go of key players.
“We have spent too much money and we have to sell some players by July 1,” he said.
“I wouldn’t say that this will be very easy or very difficult. Now we’re a Premier League team, and the value of the players has increased – that’s an advantage. We have some players who know they won’t be able to play for us.
“Now we will work on this and solve the problem. It is a new task, and we will manage it. I’m not afraid. We clearly have more difficult things. For us, this is more manageable.
Several Premier League clubs, including Everton and Nottingham Forest, have both received points penalties – six and four points respectively – for breaching the league’s Profit and Sustainability (PSR) rules.
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