Hull City owners Assem and Ehab Allam have refused to comment on rumours suggesting they have suspended manager Nick Barmby.
It is believed the 38-year-old faces a disciplinary process over comments made about the club's finances in the media.
Barmby took full-time charge of the Tigers in January, following Nigel Pearson's return to Leicester City.
However, the Allams have issued a statement confirming head of football operations Adam Pearson has left.
The statement read: "When we acquired the football club we made it clear we would run it in accordance with sound and proper business principles and procedures.
"We have not and will not deviate from those principles.
"Therefore although we fully appreciate the supporters' and media's desire for information we can not comment on the manager's position at the present time. We will however provide further information when we are able to do so.
"Having listened to media speculation today over funds not being available in the January transfer window, we reiterate that funds were available as previously stated by us.
"We also confirm the club has terminated the consultancy agreement with Adam Pearson without notice and without compensation.
"We are also aware of speculation about the club being up for sale. We can categorically confirm there is no truth in that rumour and we are fully committed to Hull City and its future."
After spending much of the season in the Championship play-off places, a poor run of form saw Hull finish the campaign in eighth. The Tigers ended with a 2-1 defeat at West Ham on Saturday.
Pearson in turn issued a statement confirming the matter was in the hands of his lawyers.
He said: "I wish to register my extreme surprise and disappointment at the sudden, and in my view totally unjustified, termination of my agreement.
"I had very much been looking forward to assisting in the development of a successful Hull City squad this summer.
"I have enjoyed my association with the club and wish them success in the future.
"This matter is now in the hands of my lawyers and I will be making no further comment until it is resolved to my satisfaction."
Strengthening the team is vital, Barmby has said, if Hull are to challenge for promotion next season.
The Allam family climbed to 214th in the Sunday Times's UK Rich list after seeing their fortune rise £130m to £417m in the last year.
The Egyptian-born owners have spent £51m on the club since taking control in 2010.
Former England international Barmby, who retired from playing shortly before taking over as manager at the KC Stadium, made 180 league appearances for Hull after joining his hometown club from Leeds in 2004.