Preston won’t be signing Sheffield United midfielder Regan Slater this month as he prepares to make a bargain move back to Hull City.
The Hull Daily Mail report that big changes are coming at Hull after Turkish businessman Acun Ilicali completed his takeover.
Firstly, manager Grant McCann is on his way out and will be replaced by former Rangers striker Shota Arveladze.
Hull will then splash £7million on two strikers from Turkey’s top flight. Aleksandar Pesic and Allahyar Sayyadmanesh will join from Fatih Karagumruk and Fenerbahce respectively.
There is a much cheaper signing planned too though, with Slater set to return to Hull on ap permanent basis.
Ilicali has allegedly given his approval to signing Slater despite him being a McCann favourite during a loan spell at Hull last season.
The deal is worth just £50,000 as Slater prepares to leave Sheffield United for good.
The 22-year-old was outstanding last season and attracted Preston’s interest over the summer.
The Hull Daily Mail even claimed in December that Preston were looking towards a January move for Slater too.
If true, Preston have missed out on Slater for an absolute bargain fee.

You do though have to question whether Preston really would still be chasing Slater.
North End already have Ben Whiteman, Ryan Ledson, Alan Browne, Ali McCann and Brad Potts who can play in box to box roles.
The only real midfield addition Preston would be seeking now is another playmaker to ease the burden on Daniel Johnson.
That isn’t really suited to Slater’s game, so whilst Preston may have looked over the summer, a deal now just wouldn’t add up.
