Hull chairman Adam Pearson plans radical cost cuts
Administration 'not on immediate agenda' for Hull
Chairman Adam Pearson says Hull face a "tricky" future with relegation almost certain but he insisted administration is "not on the immediate agenda".
The 1-0 home defeat by Sunderland means Hull are all but certain to be playing in the Championship next season and therefore face a £21m cash shortfall.
"We desperately need to get the wage bill down," Pearson told BBC Sport.
But Pearson declined to clarify the future of manager Iain Dowie, who joined on a short-term deal in March.
"It's not a decision for me," said Dowie, whose deal will expire at the end of the season. "I've never walked away from a challenge in my life. It is a huge challenge here but it's one the powers thatbe will have a decision to make.
"I know what I do every day in work, I know the way in which I train, I know my CV stands up to scrutiny in terms of play-offs and what I've done with different clubs."
Under Dowie, Hull have managed to pick up just four out of a possible 21 points, losing five games.
If the Tigers win both their remaining games, they could still match West Ham's current points total of 36 - but their vastly inferior goal difference means they are effectively down.
"We've been in the bottom three all season," said Pearson.
"At the end of the day we need to hold our hands up and say we weren't good enough.
"We need to take it the chin, sort things out internally and hopefully come back bigger and stronger."
In recent years the likes of Leeds United, Leicester and Southampton have all eventually gone into administration after relegation from the Premier League, but Pearson ruled out that prospect - for now.
Boateng pinpoints Hull problems
"We have to restructure some debt and get the costs down. Administration is not on the immediate agenda and the owner has a lot invested in the club," said Pearson, referring to owner and vice-chairman Russell Bartlett.
Pearson wants Hull to build their future around home-grown players like Tom Cairney and Mark Cullen, who both came on as substitutes in the defeat by Sunderland.
"We have a tricky situation over the next three months and we will have to move out some of the high wage earners," he added.
Last week Pearson reopened a row with his predecessor Paul Duffen over how the club had been run financially before the former Hull chairman resigned in October 2009.
In January, Pearson claimed insufficient care had been taken over transfers and deals and launched legal proceedings against Duffen.
Duffen denied all the allegations against him at a preliminary hearing at the High Court and the two parties eventually settled out of court.
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