When we acquired the football club we made it clear we would run it in accordance with sound and proper business principles and procedures.
We have not and will not deviate from those principles.
Therefore although we fully appreciate the supporters' and media's desire for information we can not comment on the manager's position at the present time. We will however provide further information when we are able to do so.
Having listened to media speculation today over funds not being available in the January transfer window, we reiterate that funds were available as previously stated by us.
We also confirm the club has terminated the consultancy agreement with Adam Pearson without notice and without compensation.
We are also aware of speculation about the club being up for sale. We can categorically confirm there is no truth in that rumour and we are fully committed to Hull City and its future.
Assem and Ehab Allam