HULL OF A DEAL FOR BARTLETT

HULL owner Russell Bartlett could scoop a £40million windfall if he finds a buyer.

Bartlett is ready to sell the Tigers for £50m - less than 2½ years after he bought the club for a fifth of that price.

The property developer made his decision to sell when Hull secured their Premier League safety on the final day of last term.

And he is set to walk away with a staggering £40m profit as he owns 100 per cent of shares.

Bartlett has been looking for a financier since May to end his time in charge and the reappointment of Adam Pearson as chairman was merely a way to hasten a deal.

Bartlett has struggled to inject the kind of finance needed to run a lower level Premier League side with a £30m basic wage bill.

His initial takeover from Pearson in 2007 was based around guaranteeing overdrafts and loans to take over a Championship club.

The possibility of relegation is hastening his desire to get out.

The Tigers owner borrowed £4.4m FROM Hull 12 months ago with an agreement there would be NO interest and NO repayment date.

That led to the urgency with which the club sold Michael Turner at the end of August - when the banks demanded a £3m payment, which was raised from the £4m sale to Sunderland.

Bartlett wanted boss Phil Brown sacked but has so far held back from firing him.

Last week's win over Stoke bought Brown time - but he is still fighting for his future.

Former Peterborough chief Darren Ferguson has support at boardroom level.

But Bartlett is being put off by the fact it would cost £2m to pay off Brown and his backroom staff.

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