HULL FC owner Adam Pearson has revealed the club’s true salary cap spend in the wake of Sky Sports’ estimating Hull to be spending £1.8 million.
The salary cap is, of course, fixed at £2.1 million and has been for five years, but Super League clubs can spend above that with marquee player rulings.
But, Pearson has confirmed that Hull are spending the salary cap and more on marquee players.
“We are, despite what everyone says, spending £2.35 million a year. Whether that has been well spent or not is another question,” Pearson told BBC Radio Humberside.
“Sky were guessing we are at £1.8 million spend. If they took me to a court of law, it would take them about 30 minutes to be found guilty.
“We have spent the money but have we spent it wisely this year is a better question. We pulled off having marquee players during Covid and on the back of Josh Reynolds but you can still be smart and compete without them.
“Marquees can also be detrimental to dressing room happiness but they can have a big impact on the team. If we can get the deal sorted out between now and the end of the season then we can expect marquee players again at Hull.”
However, Pearson painted a bleak picture for the entirety of Super League with continued losses across the board.
“Last year, Super League lost £14 million between the 12 clubs so every club is average £1 million loss. We have lost circa £5 million in the last three years and we will post another £1 million loss for 2023.
“Rugby league is an unsustainable sport, Sky have dropped their funding 35 per cent during Covid and now pay us £1 million less than in 2016. Our gates have dropped because of form.
“Rugby league is now longer a sport that can be self-sustainable. Hull FC can be, in fact we will move towards that at the end of the year having paid a huge government loan for Covid.
“We played behind closed doors, took players off furlough and accrued massive debts and we have to pay that debt back. Those clubs that have big benefactors like Hull KR and Wigan can put in £2 million a year but that’s not sustainable.
“People don’t want to sign multiple cheques for £250,000 a month. We have a unique model at Hull FC where you can have a return on your investment and can compete. The more money you put in, the bigger the gates – there is a clear correlation and has been since 2013.
“For someone who wants to invest at a reasonable level, you’re not talking big money at Hull FC, then we could push on the player roster to get back into the top five.”
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