Hull City discuss takeover
Hull City may be taken over by father and son Assem and Ehab Allam who are two local businessmen that were born in Egypt.
Current owner, Russell Bartlett has had talks with the two men over a takeover and he appears to be ready to sell the club.
Assem Allam confirmed that the two sides had been in discussions regarding a takeover earlier in the year and that both sides had returned for further talks.
Allam said, “Both parties are interested in talking again and it's in the interests of everybody concerned that things don't take a long time. We started talks earlier in the year and now we are talking again.”
Hull are believed to be £30m in debt after they were relegated from the Premier League last season.
Hull manager Nigel Pearson will welcome a takeover. The club have had an indifferent start to the season and Pearson will be eager for funds to be made available in January as he attempts to strengthen his squad.
Hull are in 16th position and have only taken 13 points from 11 games. The side have managed to keep the nucleus of their team, but a takeover seems crucial for the club if they are to challenge for promotion.
Assem Allam stated that being a local business man and a part of the community, his company were willing to invest in the club. "I think it's time to pay back the area. Hull City are important to the area," added Allam.
The business man continued, "I have been in this area for 42 years and I have built my business [Allam Marine] in the area."
Hull City has had to severely reduce their debt over the summer and the club has come close to administration.
The new owners are believed to be worth £150m and have stated they would clear the clubs debt if a takeover occurs.
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