PREMIER LEAGUE NEWS
Hull City formally announce Pearson appointment
Hull have confirmed the appointment of Adam Pearson as the club's new executive chairman.
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Adam Pearson says the club's wage bill must be reduced
Pearson's return to the club for a second spell had been widely anticipated after the resignation of Paul Duffen last week and the former Derby chairman takes charge with the club in a difficult situation both on and off the field.
Saturday's 2-0 defeat at Burnley left the team 18th in the Premier League - amid a run of just three wins in 33 games - while financial results published last week revealed serious concerns over the club's viability.
Pearson said: "I am delighted to be back at Hull City as chairman. Hull City is a club I know well and care passionately about.
"There are obviously significant challenges ahead but with real hard work from me and my staff, allied to the usual outstanding support of Hull City fans, I am sure we will take the club forward again.''
Pearson was previously at the helm from 2001-07, overseeing the club's successful rise from near bankruptcy to the Championship.
He moved to Derby after a consortium headed by Duffen bought the club but left Pride Park last week.
Pearson believes he can solve the club's financial problems and is "desperate'' for under-pressure manager Phil Brown to succeed.
Pearson told the club's website: "I'm desperate for Phil to win some games and then all this conjecture can go away. He is definitely the manager of this club and he's got a big game against Stoke. But we need wins, we need results.
"He knows that and I know that but nothing would give me greater pleasure than for us to get a win on Sunday.
"We've got some issues but nothing that can't be solved with a bit of hard work and team spirit. We'll get them sorted, I'm sure.
"Everything I can see on those accounts looks to me as though it's solvable and I don't think there should be any dramatic panic about our financial situation.
"Obviously things need tweaking and the wage bill needs looking at but it is not something that frightens or alarms me. I just see it as a challenge. It is normal for football clubs to have debts and there isn't a great deal of that here.
"I think it is just that the wage bill needs addressing, the squad size needs addressing and obviously we will work harder on commercial revenue streams as well.
"If there were no challenges or no issues I'm sure I wouldn't be standing here.''
Pearson concluded his interview with the club's website by stating he would continue to use the medium to ensure supporters were hearing "the truth and the facts rather than quite a lot of spin and hype''.
He added: "We want them to hear the truth and the facts. Hopefully they know that's what I'll be giving them.''
