Hull City placed under transfer embargo as Sheffield Wednesday are ‘released’

HULL CITY have explained the circumstances that led to the club being placed under a transfer embargo by the English Football League – and are not ruling out player sales if ‘fair value’ offers allow the club to ‘remove the transfer 
restrictions.’

Eight EFL clubs have been placed under restrictions, including Derby County and Reading, but Sheffield Wednesday will no longer have to work under the sanctions.

Hull’s embargo relates to a loan taken to help the club through the coronavirus pandemic.

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A Hull statement read: “Upon taking the loan, a number of conditions were imposed upon us and we were fully aware that we would be subject to certain limitations and restrictions in the transfer market until such time that the loan is repaid.

Hull City manager Grant McCann.
 Picture: Bruce Rollinson.
Hull City manager Grant McCann. Picture: Bruce Rollinson.

“Since securing promotion, we have received a number of significant bids from Premier League clubs for our players, all of which have been turned down. 

“After such a successful season in League One, securing our first league title since 1966, our number one priority was keeping the group of players that delivered that achievement together.

“Without the loan from the EFL/PL (Premier League) we would not have been in a position to do that and the only option would have been to sell players, perhaps at figures lower than our valuation.

“Whilst we are subject to restrictions around our transfer dealings, we are still able to bring players in and we are delighted with the quality and number of additions we have already made to the squad. 

“Though we are in a position where we don’t need to sell players, if we receive bids that we think offer fair value, player sales would allow us to settle the loan and remove transfer restrictions.”