This is from the hdm.
HULL CITY: Adam Pearson defends off-loading Ashbee and Bullard
HULL City's head of football operations Adam Pearson today defended the decision to let long-serving captain Ian Ashbee join Preston.
Having ended his nine-season spell at the Tigers yesterday, many fans were upset to see the 34-year-old leave before his testimonial campaign.
But, writing in his programme notes ahead of tonight's home match against Leeds, Pearson says City will not hand out new contracts because of "sentimentality or popularity".
He said: "The contract offered to Ian and the length of contract offered is something that we could just not match at this time. Ian needed that security and we understand that completely.
"However, we have to run the club on a proper business footing now and we can't commit to contracts on sentimentality or popularity stakes.
"Ian will always be welcome back here and I'm sure we will have a fitting dinner at the stadium in due course to honour his achievements here, but football waits for no one and it's time to move on and build a new team under Nigel now."
With Jimmy Bullard's loan move to Ipswich also proving unpopular with some City fans, Pearson has spelled out the financial cost of keeping the ̢̮â¬Å¡Ãâã5m man at the KC Stadium.
Having secured a deal which sees the Tractor Boys paying ̢̮â¬Å¡Ãâã20,000 of his ̢̮â¬Å¡Ãâã45,000-per-week wages, he says the deal is a good one in the current climate.
"Jimmy is an undoubted talented player who has two-and-a-half years left at this club. His contract alone is 21 per cent of our total playing wage budget for next season so we hope he comes back in the summer match fit and that he's ready to go."
Pearson's comments suggest City will head into the 2011-12 campaign with a playing budget of ̢̮â¬Å¡Ãâã11.7m, based on Bullard's annual earnings of ̢̮â¬Å¡Ãâã2,340,000 - a figure he says is much more realistic to maintain than the previously crippling ̢̮â¬Å¡Ãâã39m.
Stressing the positives of manager Nigel Pearson's recent policy to recruit younger and less-experienced players, Pearson said: "Over 30 players have left the club in nine months, reducing the wage bill from a ridiculous ̢̮â¬Å¡Ãâã39m to ̢̮â¬Å¡Ãâã13m and that is probably unique player turnover.
"So please bear with us while the team finds its feet and the manager makes his mark on the style and format of the club."
Pearson also reveals that City have paid ̢̮â¬Å¡Ãâã300,000 to sign Cameron Stewart from Manchester United until 2014.
The club have also recruited a new goal-keeping coach, bringing in former Manchester City keeper Joe Corrigan to replace Mark Prudhoe.