Hull City owner Russell Bartlett is seeking new investment in the club, but has ruled out a takeover. Talks were held earlier in the year with father and son duo Assem and Ehab Allem who are sponsors and vice-presidents at the club.
However, they were interested in taking control, rather than a minority stake. They have issued a statement in which they say that the finances of the club ‘are a matter of real concern’.
Hull City owner Russell Bartlett is seeking new investment in the club, but has ruled out a takeover. Talks were held earlier in the year with father and son duo Assem and Ehab Allem who are sponsors and vice-presidents at the club.
However, they were interested in taking control, rather than a minority stake. They have issued a statement in which they say that the finances of the club ‘are a matter of real concern’.
The club’s finances have stabilised with a new bank loan and a reduction in the wage bill from £38m to £15m. The club has also been able to receive its first parachute payments after negotiating agreements with clubs who were owed transfer payments.