Hull City owner Acun Ilicali states the club secured a £55m bridging loan to ensure a “strong financial position” ahead of their return to the top flight, even though the team expects to receive its first wave of Premier League funding soon.

Last week, football finance expert Kieran Maguire described the third-party investment loan as “strange,” noting that it left observers questioning the decision.

Ilicali addressed the move during an interview with BBC Radio Humberside, questioning why the decision drew such a reaction. “We want this club to be financially strong to be able to make transfers,” Ilicali said.

“I respect that everyone is talking about this loan but, at the end of the day, what we are trying to do is be in a strong financial position so that we can spend money when we need to.

“This club was supported with money from my company for four years. All I can ask is for our fans to not worry about any of the financial things. We can loan money and spend money. They should be confident that we are going to use the money in Hull City.

“All we have done is take the money that we are going to get anyway a bit sooner, so that we can be stronger in the transfer market. We will use it for the club’s benefit. We need to make good transfers this summer so we need more money now.

“We have to be strong in the Premier League. It takes around two to three weeks to get some transfers [over the line] so we have to move quickly. In order to be quick, we need the money in advance.”

Listen to the full interview above or listen on BBC Sounds