Pearson reveals star defender sold for just £2.8m

Hull's returning executive chairman Adam Pearson has denied the cut-price sale of star defender Michael Turner was for financial reasons and insisted the club is in "no danger of going out of business".

• Pearson: Brown has "full backing"
• Hull announce Pearson appointment

GettyImages

Michael Turner was sold to Sunderland for the bargain basement price of £2.8 million

Pearson revealed that the Tigers astonishingly pocketed only £2.8 million for the centre-back when he moved to Sunderland for an undisclosed fee in August, despite manager Phil Brown valuing him at £12 million.

But Pearson, who resigned from his post at Derby to return to the KC Stadium, was adamant that the sale was not made in a desperate attempt to balance the books.

"Under no circumstances was it a financial necessity to sell Michael Turner," he told the Hull Daily Mail.

"I can only second guess what people were thinking but there was probably a feeling the player wanted to go and that was the best possible deal available for him.

"It's not incremental, the total amount of cash we will receive for Michael Turner is £2.8 million. Those are the facts.''

Liverpool boss Rafael Benitez expressed his interest in signing the defender before he moved to the Wearsiders, but the Reds insisted at the time they had been priced out of a move and signed Sotirios Kyrgiakos instead for £1.5 million.

Pearson said the total fee, which involved no add-ons based on performance or progress, was £4 million, but 33% was due to Turner's former clubs Brentford and Charlton.

The clubs are believed to be livid after expecting a big payout for the acclaimed defender and have asked the Premier League to investigate the sale. But Pearson is confident the club have done nothing wrong.

He said: "From what I can see, an investigation is unfounded. "I think the two clubs have seen inflated figures in the press but the only thing we could be accused of is not maximising the fee at the best possible time.''

Hull's accounts - released last week, five months behind schedule - showed borrowings of £22 million, prompting accountants Deloitte to predict the Tigers will have to raise £23 million to balance their books should they be relegated, and £16 million if they survive.

It is a bleak outlook but Pearson insisted the club will survive.

"If I felt the club was in imminent danger I'd have thought long and hard about coming back. Every problem at this club is solvable and the supporters should rest assured the club is in no danger of going out of business or going into administration.''