Source: Team_Talk
Petrie pledges funds for Yogi
Hughes, 44, has signed a three-year contract with the team he supported as a boy, succeeding former team-mate Mixu Paatelainen, who stood down just under two weeks ago.
The reasons for Paatelainen's departure after only 16 months in charge remain unclear, although reports claim he was unhappy with the budget he was being offered by Petrie.
Chairman Petrie refused to expand on the issue today but vowed to provide Hughes with the funds to compete in the Clydesdale Bank Premier League.
He said: "John will have the absolute 100 per cent support of the board.
"Our job is to put the best possible team on the pitch that we can and we know we will be competitive with those that we compete against."
Petrie insisted Hughes' efforts would not be hampered by the Setanta crisis, amid reports the broadcaster are on the brink of administration.
He said: "One way or another, we will be competitive next season with everybody that we'll be competing against."
Petrie, who is a member of the Scottish Premier League board, added: "I know there are a number of people working very hard trying to get a positive outcome for everybody.
"Hibernian is in a strong position; we've described ourselves in the past as being rock solid financially."
Petrie was thrilled to have secured the services of Hughes, who was one of the favourites for the job from the outset despite reports he and the Hibs chairman did not get on.
"John and I have had a good laugh about that and neither of us knows where it comes from," Petrie said.
"It's just one of these urban myths which grows arms and legs."
He added: "I was delighted that he accepted our offer to be the manager. He was the right man for the job and we're delighted to have him.
"He's got a clear vision of what he wants to do, how he wants his teams to play. He's very passionate, he's energised everybody who's met him in the last day or so.
"And we're sure that we have the infrastructure that can help support him to be an even better manager than he is at the moment."
Petrie revealed Hibs were hoping to conclude negotiations with Hughes' assistant Brian Rice after being given permission to speak to him by Falkirk.
He said: "Brian's on holiday at the moment. We've spoken to him and are hoping to collect his autograph when he returns."
