New Hull City chairman Adam Pearson has called in auditors as he bids to get the club's finances in order.

The Tigers faced a fine from Companies House after publishing their 2008 figures, which revealed huge losses, several months late.

Pearson told BBC Look North: "There is a requirement for funding over and above the income of the club but that is under control for us."

The last accounts revealed a shortfall approaching £16m.

Pearson added: "What is a more to medium to long-term problem is bringing the wages down in relation to the turnover.

"We are working diligently to bring in extra finances but the short-term is fine it's just the medium and long-term that needs attention."

Pearson has also confirmed that Caleb Folan will return from his loan spell with Middlesbrough.

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