Hibs plot major summer clearout as David Gray reveals why £7.2m loss ISN'T a transfer worry

David Gray insists Hibs’ staggering £7.2million loss will not impact his summer signing plans – because he always planned to cull his bloated squad anyway.

The Leith side announced their financial results for the year a week ago and they made for grim reading by worried fans - with the wages to turnover ratio at an alarming 78 per cent. But Gray, whose only January recruit was midfielder Alasana Manneh, has made it clear he will not be forced into major cutbacks with some 13 players out of contract in the summer.

The clear-out has already begun with Harry McKirdy, Jake Doyle-Hayes and Luke Amos departing in the last window. Asked if the loss would affect his strategy at the end of the season, Gray – whose team will look to extend their 11-game unbeaten runs in Sunday’s clash at St Mirren – said: “No. When you think back to the (squad) number being where it is, it was probably because of the additional support I got at the start of the season.

“That was to back me, to give me every possible chance. With the number of players who are out of contract at the end of the season, we are future planning. In January, it’s not a case of just signing players for now, it was always about the longer term, knowing what was coming around the corner, knowing that players will naturally move on.

“The number of players who are going to be out of contract, the wage bill will naturally come down because of the number of players. This season was always going to be a bit of a transitional one with the number of players who were naturally out of contract.

“A few have already moved on in the January window because they weren’t getting enough game time, were out of contract and it worked for both parties. That was an example of it when you think