Npower Championship side Hull City has confirmed that a takeover deal has been agreed for the club with Assem and Ehab Allam.
The pair will become Hull’s new owners after negotiating a deal with Russell Bartlett. The agreement will see the Allam’s take over the club’s estimated £20m debt whilst they have pledged to commit funds to new signings in the January transfer window.
In a joint statement Assem and Ehab were keen to reassure Hull supporters that their input at the club will be purely financial.
The statement said: “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 financial stability of the club and its long-term success is of paramount importance to us both.”
It is understood that Russell Bartlett will remain a shareholder and non-executive director whilst Adam Pearson will continue in his current role.