Adam Pearson feels like he is "coming home" after returning to Hull and is confident the club will soon be moving forwards again.

The former Derby chairman began a second spell as Hull chairman less than a week after leaving Pride Park.

Pearson oversaw City's rise from near bankruptcy to the Championship in six successful years from 2001 but left after the club were taken over by a consortium headed by Paul Duffen.

Hull went on to secure promotion to the Barclays Premier League after his departure but he returns days after it was revealed the club's finances are in a parlous state and with manager Phil Brown's position under intense scrutiny.

Pearson, who takes over following Duffen's resignation last Thursday, said: "It's happened very quickly over the last week. The owner decided it was important we had a new direction so I'm delighted to be here, it's like coming home.

"The infrastructure of the club seems pretty much the same. We have got one or two issues to address but I am sure we will do that.

"Everything here looks as though it can be put right pretty quickly. Hopefully we can sort on the pitch out as well and move forward there and get a bit of team spirit and unity back together."

Hull have been warned they could face a deficit of £23million if they are relegated from the top flight this season.

Among Pearson's immediate priorities will be to trim a wage bill that has been reported to have reached £40million.

"Everything I can see on those accounts looks to me as though it's solvable and I don't think there should be any dramatic panic about our financial situation," he said.

The future of Brown is also a pressing issue with his team 18th in the table and having won just three times in 33 games in the competition stretching back to last December.

Brown has at least been assured he will be in charge for Sunday's home clash against Stoke but Pearson, who initially appointed Brown in December 2006, has offered no long-term guarantees.

Pearson said: "I'm desperate for Phil to win some games and then all this conjecture can go away.

"He is definitely the manager of this club and he's got a big game against Stoke. But we need wins, we need results.

"He knows that and I know that but nothing would give me greater pleasure than for us to get a win on Sunday."