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Phil Brown fighting Hull axe as money men warn of 23m relegation disaster

29 Oct 2009 12:00:05

Phil Brown fighting Hull axe as money men warn of 23m relegation disaster

Hull City were forced to issue a statement denying manager Phil Brown had been sacked after club sources told Sportsmail the East Yorkshire club had virtually given up on him after a disappointing start to the season. A number of bookmakers, including Paddy Power and William Hill, today suspendedbetting on Brown being the next Premier League manager to leave his job, whileDean Windass - the striker who fired Hull into the Barclays Premier League withthe only goal in the play-off final victory in 2008 - has also called for the50-year-old to depart the KC Stadium. Game over? Phil Brown has struggled to get Hull going this season The Tigers are currently languishing in the relegation zone in the Barclays Premier League after collecting just eight points from 10 matches. However, a statement on the club's official website read: 'Contrary to media speculation the club can confirm that Phil Brown has not been sacked and remains the manager of Hull City Football Club.' Tigers hero Windass, who left the club at the end of last season, has upped the pressure calling for Brown to move on. 'I think sometimes you need a fresh change,' Windass told talkSPORT magazine.  'Phil'sdone a fantastic job since he's been there but I think it's time thathe should get moved on and bring somebody else in. Critic: Hull hero Dean Windass 'It's going to bedifficult (for them to stay up). They're not getting results and they're struggling to scoregoals at the moment.  "They need a 10- to 15-goal-a-year striker to get awayfrom the bottom of the table.  They've got a little mini league at themoment and it's important they win games against teams in and aroundtheir league.' Hull's problems have been magnified by warnings from their accountants over the club's "ability tocontinue as a going concern" should they be relegated. The Tigers managed to retain their top-flight status on the final day of last season, leading Brown to lead a cringeworthy singalong on the KC Stadium pitch. Their latest accounts have now been filed, five months late, to Companies House. The period covers the year ending 31 July 2008, when Hull made aloss of nearly £10million as they won promotion to the Premier Leaguevia the play-offs. This does not include any figures from the club's first season inthe top tier of English football, and the directors remain confidentthe next set of results will be much more positive. However, auditors Deloitte nevertheless warn a surplus of some£23million would need to be raised just to meet current liabilities. VIDEO: Phil Brown's end of season singalong... Should Hull stay up, they would still, according to the reportwhich is now a matter of public record, need to produce an additional£16m, with another £7m needed should they go down. The report read: "These forecasts demonstrate that in order tooperate within the company's finance facilities Hull City AFC will needto generate a surplus £23m during the next 12 months throughplayer trading, match day and commercial income and/or throughadditional finance raising. "In the event that the club retain Premier League status for the2010-11 season, the additional funding required for the 12 month periodwill be in the region of £16m. This is reduced as a result of theguaranteed level of Premier League distributions that will be received. "As is common with all football clubs, Hull City AFC will makeplayer purchases and sales during the course of the season to managethe company's cash flow as and when required. Hull of a problem: Brown fell out with Jozy Altidore (left) for revealing club secrets on Twitter "The directors acknowledge that player purchases and sales areuncertain in terms of timing and quantum and some uncertainty existsover the availability and quantum of additional facilities should suchbe required. "These conditions indicate the existence of a material uncertaintywhich may cast significant doubt about the company's ability tocontinue as a going concern." Hull, though, remain confident once the additional revenue fromtheir first Premier League campaign is factored in - worth an estimatedminimum of some £40million - then the results for 2008-09 will be morepositive. The directors' statement concluded: "The financial benefitsarising from the Premier League's broadcasting rights are notrecognised until the following financial year, where the lossesincurred this year are forecast to be made good. Feeling blue: Jimmy Bullard (centre) is recently back from injury for the struggling side "The club are currently in advanced discussions with financeproviders for the acceleration of known Premier League distributionsfor amounts of £7m. These discussions are expected to beconcluded in the near future and would reduce the surplus findsrequired by £7m. "The directors have a reasonable expectation that the company haveadequate resources to continue in operational existence for theforeseeable future."  Hull must raise £23m to stay afloat if they go down, say Tigers' accountantsDozy Jozy Altidore told to fight for Hull City future after making a Twit of himselfHULL CITY FC


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