HULL CITY have this week held talks with Nigel Adkins over a contract extension for the club’s head coach, The Yorkshire Post understands.
The 54-year-old has been in charge of the Tigers since December, 2017, but his current deal runs out in the summer.
Sources at the KCOM Stadium suggest the club’s owners, the Allam family, are happy with the job done by Adkins since succeeding Leonid Slutsky.
City finished 18th last season, while this time around a stirring run of form either side of the new year brought talk of a late dash for the play-offs.
Five defeats in the last 10 games, however, have seriously damaged those hopes. A six-point gap to Aston Villa in sixth place suggests Hull will have to settle for another year in the Championship.
Nevertheless, the Tigers hierarchy are understood to be keen to retain Adkins and further talks are planned, more than likely before the trip to Ipswich Town on March 30.
Part of those discussions will, no doubt, centre on the need for the club to cut its financial cloth accordingly next season.
City’s parachute payments, linked to relegation from the Premier League in 2017, stop this summer.
Turnover will fall significantly as a result, meaning a big knock-on effect for the club’s playing budget.
Several players are out of contract at the end of June, including big earners such as David Marshall and Evandro.
Others such as Fraizer Campbell also see their current deals end in the summer, though City do have until May to trigger a 12-month extension to any soon-to-expire deals that were agreed after the club had dropped out of the Premier League.
Hull’s accounts for the financial year to December 31, 2018, underlined just how relegation has hit the club financially.
Pre-tax profits for Allamhouse Limited – which incorporates City, engineering firm Allam Marine and the Stadium Management Company – fell from £52.7m to £4.3m.
Hull’s turnover fell from £89.2m to £52.7m, the sum for the previous 12 months having been swelled by several big-money departures.
Harry Maguire, Sam Clucas and Andrew Robertson were all sold in the wake of the club’s relegation, while 2018 saw no major outgoings in the transfer market.
This summer is expected to see several clubs chasing Jarrod Bowen, the Tigers’ 20-goal top scorer.