Hull City owner Russell Bartlett has dismissed claims that the club may go into administration.
The cash-strapped Tigers have been trying to get their debts under control for some time and several high-profile players have left the KC Stadium in the close season, with only James Harper and Nolberto Solano arriving on free transfers. While Bartlett admitted he is working hard to strengthen their financial position, he is adamant the club will not enter administration.
"I can categorically state that administration is simply not on the agenda," Bartlett told the Hull Daily Mail.
"We are well down the line in our plans to restructure the finances of the club and we are very close to meeting our targets."
Reports have also suggested that the Premier League was planning to withhold Hull's parachute payments in order to pay clubs who are still owed transfer money by City.
Copyright (c) PA Sport 2009, All Rights Reserved.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms