218.6% increase… Hull City fans will fear the worst as mind-blowing figure shows Acun Ilicali’s damage

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Hull City fans will want to erase the past week from their memories, but sadly, their situation is only going to get worse.

Hull were hit with a three-window transfer embargo for failing to keep up with their payments. The club have since issued an appeal to the EFL, with Acun Ilicali confident restrictions will be eased.

But not being able to spend money on transfer fees is only the beginning of their problems, as City could lose several of their players due to their poor financial position, with Rangers showing an interest in Abu Kamara.

To add to their woes, an emerging report suggested that Hull still owe £22 million in outstanding transfer fees as of May 2025, which has come from Ilicali consistently buying players in instalments.

So, with a transfer embargo hanging over their head and millions owed to other clubs, one key factor has contributed to their problems.

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Hull’s wage bill has risen by 218% under Acun Ilicali

When Ilicali bought the club from the Allam family for £20 million in January 2022, the club had almost no debt, owing to how the Egyptians ran the Tigers well financially.

Fast forward three-and-a-half years, and the club’s debt has totalled over £60 million, which is massively concerning for a team operating with a low revenue stream in the Championship.

A contributing factor to their problems has been shelling out big on transfer fees for players who haven’t repaid City with performances on the pitch.

This is highlighted by the wage budget at the MKM Stadium increasing by 218% since Ilicali took control of the club during the 2021/22 season.

According to The Athletic, when the Turkish TV mogul completed his takeover, Hull had a wage bill of £8.6 million, which climbed to a staggering £27.4 million in the 2024/25 campaign.

With multiple players leaving the club, that figure will have perhaps decreased slightly, but the signings of Mohamed Belloumi, Charlie Hughes, Eliot Matazo and Kamara have all bumped up the wage bill.

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How Hull City’s wage bill compares to the rest of the Championship

Hull were lucky to survive by the skin of their teeth on the final day last term, with Luton Town suffering relegation at their expense.

But considering the Tigers had ambitions of reaching the play offs, it was an incredibly disappointing campaign.

Remarkably, despite finishing near the bottom in 2024/25, according to Capology, Hull currently have the fifth highest wage bill in the Championship, with only recently relegated Leicester City, Southampton and Ipswich Town, as well as losing play-off finalists Sheffield United, paying more in wages.

By paying the premium for players and offering them big money, Ilicali showed the ambition to challenge. Sadly, the quality of their recruitment meant millions were wasted, and now they find themselves in a horrific financial position.