Hull City interim manager Mike Phelan has issued a damning verdict of his side's hopes of Premier League survival, publicly admitting that they cannot compete as things stand.

The newly-promoted outfit have endured a difficult off-season as they lost manager Steve Bruce, failed to sign any players, sold key midfielder Mohamed Diame to Newcastle United, and are currently left with a paper-thin squad.

Hull owners Assem and Ehab Allam have reportedly taken a big step towards selling the club after holding advanced talks with Far East investors this week, but Phelan stressed the importance of strengthening the squad as soon as possible.

The 53-year-old told a press conference on Friday: "Speculation [on ownership] has been there for a long time, not just over the past couple of days. I have to leave that with them. The pressure is on to do some business.

"Can we compete as we are? I would say no. Most of the injuries are long-term. It's a small squad. There definitely needs to be additions to this club."

The Tigers begin their season at home against champions Leicester City on Saturday.