Adam Pearson has said that despite new investors set to come into the club, Brown will remain his choice of manager, and the matter would be concluded by the end of the month.
However, with Sam Allardyce set to take over as manager of Newcastle United, Brown could be tempted away. He was assistant to Allardyce at both Blackpool and Bolton before leaving to manage Derby and then City. Allardyce has already stated he is looking to take some of the coaching staff from Bolton to Newcastle, and may also be looking to re-unite with his former number 2.
South Shields-born Brown, known to be a Sunderland fan, told North-East newspaper the Chronicle: "I am currently in negotiations with Hull, but it's a complex situation.
"If something else comes up then I have to judge the offer on its own merits.
"I can only deal with speculation in one way, but if an offer is there then I have to make a judgement."