Fans’ group calls for ‘clarity’ on finances as Hull City hit by transfer embargo

QUESTIONS: Acun Ilıcalı

By Simon Bristow, Co-Editor

Hull City’s preparations for the new season are in disarray after the club was placed under a three-window transfer embargo by the EFL (English Football League) with immediate effect.

The club said it would appeal.

The sanction comes just weeks before the start of the new Championship campaign and days after the appointment of new head coach Sergej Jakirović.

In a short statement, the club said: “Hull City can confirm that we have received notification from the EFL that the Club is subject to a transfer embargo and a three-window fee restriction with immediate effect.

“We will appeal the three-window fee restriction and are confident of resolving the matter as soon as possible.”

Unless the appeal is successful, it means the Tigers will be unable to pay a fee for any player until January 2027.

Confirmation of the embargo, first reported in The Telegraph last night, represents a huge setback for a club which has stated its intention to recruit a raft of new players under Jakirović.

It has prompted Hull City Supporters’ Trust to call for “transparency and clarity” about the club’s finances.

The embargo is reported to have been imposed by the EFL over an alleged late payment of about £1m to a Premier League club, reportedly Aston Villa over last season’s loan of Louie Barry, whom the club has been trying to sign again for the new campaign.

In a statement, the supporters’ trust said: “Hull City Supporters Trust are deeply concerned by the recent news of a transfer embargo imposed on Hull City AFC by the EFL, as reported by The Telegraph on July 3, 2025. The reported financial issues, including alleged non-payments to other clubs and local suppliers, raise serious questions about the club’s financial management under owner Acun Ilicali.

“While we acknowledge Mr Ilicali’s significant investment since his 2022 takeover, the reported cash-flow problems and potential for further sanctions, such as a three-window transfer restriction, are alarming. The collapse of the deal to sign Louie Barry and the constraints on registering new players only heighten our concerns about the club’s ability to compete in the Championship.

“We urge the club’s leadership to provide transparency and clarity to supporters regarding the financial situation and the steps being taken to resolve these issues. The Trust calls on Hull City AFC to engage constructively with the EFL to ensure compliance and avoid further penalties that could jeopardise the club’s future.”

It added: “Hull City fans deserve a stable and competitive club. We will continue to monitor this situation closely and advocate for the best interests of our supporters and the long-term sustainability of our beloved club.”

Owner and chairman Ilıcalı had dismissed concerns about the club’s finances as recently as Monday at a press conference unveiling Jakirović.

Responding to questions from BBC Radio Humberside Sports Editor Mike White, Ilıcalı said: “We don’t owe any money to anyone.” He also urged fans not to “stress” about the issue.

White asked how sustainable the situation was after the club’s most recently published accounts showed losses of more than £60m.

Ilıcalı said: “What is that £60 million?”

White: “In terms of the last accounts that were published, the £60 million losses.”

Ilıcalı said: “OK, again there’s a misunderstanding there. We have to just clarify. This £60 million was before we sold two players for almost £40 million. So again, it is like this – the accounts until August is £60 million … one month later it becomes £20 million because we sell £40 million [worth of] players.”

White: “But then you signed other players off the back of that … you had to still recruit.”

Ilıcalı: “There are two things very simple. There’s a spending limit in this league that you have to just obey. Apart from that we don’t owe any money to anybody. The club owes money to me and I’m the owner. So again I think a communication problem is happening here.

‘DON’T STRESS, WE’RE FINE’: Acun Ilıcalı, centre, speaking at a press conference on Monday with new head coach Sergej Jakirović, left, and sporting director Jared Dublin

“Many clubs have similar numbers. If you check many clubs you will see the same things. And I’m very surprised why it’s on the table the club is in debt. There is no problem like that. The club owner is Acun Ilıcalı. The club owes money to Acun Ilıcalı. So everything the club owes is to me.

“Yes, I finance this club as all owners [do]. Maybe, Mike, you know better than me because I don’t follow other clubs. Is there something I’m missing here? Do we have a problem in that please?”

White: “It’s not as high as some clubs but fans look at it and they’re concerned at the figure and you say it’s owed to you, so then what would happen when that money needs to be paid back at some point? At some point that money needs to be paid back to you, doesn’t it?”

Ilıcalı: “No, no, it is not like that.”

White: “You would write that figure off?”

Ilıcalı: “What circumstances could happen that it’s going to be paid to me, I couldn’t understand? I mean the club owes money to me, I’m the owner. If I want to sell this club I will ask for some money and of course I cannot ask [for] all the money that the club owes me because this time nobody will buy the club.”

White: “I think that’s what people are trying to clarify.”

Ilıcalı: “Our fans, of course some of them can misunderstand, this is so normal. But as a general [principle] I can say that we are using spending limits and I’m spending from my pocket, yes, and don’t forget I am spending from my pocket, but we have extremely good players in this club and getting more and more.

“If you ask me we have £60 million sellable players in the future, so the club owes me £60 million, we have maybe in the future we will sell £40, £50 million [worth of] players. That’s not something I’m too much actually involved in, worried.

“The fans see some number and can be worried, this is of course such a normal thing. All I can say for them – don’t be under stress, we are fine.”

Also at the press conference, Ilıcalı and Jakirović said the club had set a new season target of a top ten finish in the Championship.

City only maintained their Championship status on goal difference last season under previous head coach Rubén Sellés. Jakirović is the club’s fourth manager in just over a year.

The EFL has been approached for comment.