The Tigers are struggling with financial problems and are in need of £16million to balance their books.
“We have too many players, it is as simple as that,” he told the Yorkshire Post.
“There are 40 at the club, plus all the kids, and I would envisage that number having to come down by 15 or so.
“In a way, the club has been a victim of its own success as it has come a long way in a very short space of time. As I know from my time here when we won back-to-back promotions, it is easy to accumulate players on your way up. Clearly, the number has to come down.”
He added: “But what I will say to supporters is this club is miles away from having to sell the players it wants to keep.
“The departures I am talking about concern those who are not in the [first] team.”
