Hull chairman Adam Pearson has promised to slash the amount of money the club pays out in agent fees.
Figures published this week by the Premier League revealed Hull had paid just over £1.5million to agents for the year ending September 30, 2009.
Pearson told the club's website, www.hullcityafc.net: "I don't think the agents fees are something we can look back on with a great deal of pride. They have to be put right straight away and those sort of figures will not be leaving the club in the future."
"We spent £1.5million, but that is the money we have paid," Pearson added. "The contracts that are outstanding actually total over £4.5million. For this club to be spending £4.5million in 12 months is totally disproportionate to other clubs and the size of the transfer fees we have been paying."
Hull's biggest signing during that period was Jimmy Bullard, who moved to the KC Stadium in January for a club record £5million.
Pearson admits there will be no such spending in the next transfer window, when the emphasis will be firmly on cutting the wage bill.
Hull, who have debts of around £9million, were warned when their accounts were published in October they would need to raise £23million to meet current liabilities if relegated from the Barclays Premier League this season.
Pearson said: "I am hoping for fringe players and players who are not in the long-term plans who can move out. Obviously that is going to depend on them getting the right clubs and right moves for them.
"There may be one or two loans or bits and pieces coming in to try to strengthen but unfortunately we are probably going to have to go with the strength we have got because the financial side is a little bit tight."
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