http://www.thisishullandeastriding.co.uk/sport/HULL-CITY-EXCLUSIVE-STATEMENT-NEW-OWNERS/article-2861458-detail/article.html
These are pretty much the perfect owners for us. They aren't sugar daddys but they are wealthy and more importantly they have been going to watch Hull City for over 10 years and already made various donations to the club in past. Despite them being Egyptian we seem to have found owners that care for our club.
All I can say is... Bye bye debts.
2 fast wingers in January please.
HULL City and new owners Assem and Ehab Allam have confirmed a takeover deal has been agreed in a statement to the Mail. It is the first offical statement from both parties on the matter and it sees the Allams pledge to take over the clubs debts – thought to be more than £20m and fund new signings in the January transfer window. The statement reads: Businessmen Assem and Ehab Allam have agreed a Heads of Terms arrangement with Hull City owner Russell Bartlett to take a controlling interest in the Championship club.
The deal was reached at 7pm last night (Tuesday) after several weeks of negotiations, leaving only the legal processes to be completed by the end of November. Once the agreement has been signed by both parties, the Allams will hold the majority shareholding in Hull City AFC and Superstadium Management Company. In a joint statement, Assem and Ehab said: “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.” Under the terms of the agreement, Russell Bartlett will remain a shareholder and non-executive director. Adam Pearson will continue in his current role.
These are pretty much the perfect owners for us. They aren't sugar daddys but they are wealthy and more importantly they have been going to watch Hull City for over 10 years and already made various donations to the club in past. Despite them being Egyptian we seem to have found owners that care for our club.
All I can say is... Bye bye debts.
2 fast wingers in January please.
