KC Stadium: Home of Hull City(credit:
Wikipedia)
Championship outfit Hull City will be taken over by local businessmen Assem and Ehab Allam, the pair have confirmed.
Bet365 is live streaming Preston v Hull City at 19.45 GMT on Friday night.
The Allams have reached an agreement with Russell Bartlett to purchase the Tigers and the stadium’s management company, with the deal expected to be completed at the end of the month.
A statement released by the Allams read: “We are delighted to have reached agreement with Russell Bartlett to take a controlling stake in Hull City.
“More details of the agreement will be made public in due course. For the time being, it is important to stress to everyone, especially the supporters of Hull City, that we see our role as bringing financial stability to the club to help clear the outstanding debts and to enable it to survive and flourish.
“Our strengths are in business expertise and financial management. We will leave the football decisions to those who know best.
“The arrangements mean we will take over the club’s debts and we have set aside funds for working capital and to secure new players in the January transfer window.
“The financial stability of the club and its long-term success is of paramount importance to us both.”