Hull City chairman hits out at ‘misinformation’ and makes ‘£100m’ squad claim in new financial update

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Hull City chairman Acun Ilicali has issued a statement hitting out at the ‘misinformation’ regarding the club’s current financial situation.

Following on from Sheffield Wednesday’s ongoing problems, it was revealed last week that Hull City have been hit with a three-window embargo.

It means the club currently can’t spend any money on transfers or make loan signings.

Acun Ilicali has made progress on easing the restrictions, but it’s an ongoing issue that currently prevents the Tigers from getting deals over the line.

A transfer for Louie Barry did appear to be close after his initial loan spell last season, but there were suggestions a move for the Aston Villa man could be scuppered.

Now, Hull’s chairman has issued a statement on the situation, hitting out at the ‘misinformation’ surrounding the Yorkshire club.

Hull City chairman issues statement on financial situation

Ilicali has addressed a number of topics, including Barry, Fin Burn, and Jaden Philogene.

When doing so, the Hull chairman was quick to hit out at the ‘misinformation’ circulating.

He also suggested that the Tigers’ squad has a £100m potential value.

The statement, which was released on the club’s official website, read: “Dear Hull City Supporters, it is clear there has been a lot of misinformation circulating in the last few days, so I wanted to clarify a few matters.

“There are zero issues between us and Aston Villa, in relation to both Louie Barry and Jaden Philogene arrangements, and we are very confident in our appeal case.

“The Fin Burns situation is actually quite simple. We intended to use proceeds of a player sale to settle this fee and as soon as the EFL told us this wasn’t possible – due to reasons not related to us, we made a direct payment immediately to end the matter.

“With regards to payments to suppliers, unfortunately, the club experienced a cash flow issue when it didn’t receive a £1.5m payment for a player which was intended to clear invoices from suppliers. I will cover this shortfall until we receive the funds we are owed and our team are in communication with all suppliers to rectify any outstanding issues as soon as possible.

“When I spoke with our fans last week, I told them the club is losing money and I am supporting when required. The club will always have my full backing whenever it needs it.

“I want to reassure our fans that we have zero conflict with any clubs. Perhaps there were some finance administrative errors but I am sure the EFL will be understanding to our appeal and we are confident in our case.

“People are entitled to their opinions and to write a different story, that is life, but I will always be behind our club. Our squad has £100m potential, we have a very good coach, the best fans and if we are united together we can achieve our dreams.

“UTT

“Acun Ilıcalı,

“Hull City Chairman”.

How much is Hull City’s squad worth?

A player’s transfer value is, of course, subjective, but after their chairman’s £100m claim, fans may be interested to see how much their squad is worth right now.

Currently, Transfermarkt give the Tigers a value of €57.93m (around £50.03m).

Ryan Giles, who spent the second half of last season on loan at Middlesbrough, is the club’s joint-highest valued player at €4.5m (around £3.88m).

Mohamed Belloumi has been given the same value as Giles, followed by Alfie Jones (€4m) and Abu Kamara (€4m).