BBC Sport football


Related BBC sites

Page last updated at 15:24 GMT, Wednesday, 8 December 2010

Assem and Ehab Allam to clear Hull City bank debt

Assem Allam
Assem Allam has been a major benefactor to the city of Hull

Hull's prospective new owners Assem and Ehab Allam are reportedly preparing to clear £9m of bank debt when their imminent takeover is complete.

The debt to Investec Bank is set to be wiped out in one payment cutting the Championship club's overall debt to a reported £12m.

That will leave a debt of £5m owing to Barclays Bank and £7m in outstanding transfer fees.

The takeover is expected to be completed by the end of this week.

Last week, BBC Radio Humberside reported that the Allams have set aside £1m to keep HM Revenue & Customs at bay once the sale goes through.

And with the Egyptian businessmen having to invest more than initially anticipated, current owner Russell Bartlett is now expected to leave without any stake in the club.

Print Sponsor

see also
Allams complete takeover at Hull
17 Dec 10 |  Hull
Allams agree to pay Hull tax bill
01 Dec 10 |  Hull
Hull City confirm takeover deal
10 Nov 10 |  Hull

related bbc links:

related internet links:
The BBC is not responsible for the content of external internet sites


Sign in

BBC navigation

Copyright © 2017 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.