Source: Daily_Mail
Hull under new ownership as Assem and Ehab Allam finally complete takeover deal
Under new ownership: Local businessmen Assem and Ehab Allam have been confirmed as the new owners of Hull[LNB]Local businessmen Assem and Ehab Allam have been confirmed as the new owners of Hull after their protracted takeover was finally completed. [LNB]The father and son team succeed Russell Bartlett, whose three-year tenure at the club began with promotion to the Premier League but turned sour last season as the club's mounting debts were compounded by relegation back to the Championship. [LNB]Assem Allam said: 'I'm very pleased we managed to achieve the deal. We wanted to give a present to the fans of Hull City. [LNB]'We would like the fans to be patient. Our investment exceeded whatwe initially thought so my plans for the club will have to be delayed.'[LNB] The Tigers finished the 2009/10 campaign approximately £35millionin the red and were forced to sell a number of key players, reducingthe debts to around £20million. [LNB] Bartlett made no secret of his desire to sell the club as the board battled to keep Hull out of administration, and today's news means that threat has now been removed. [LNB] On his way out: Russell Bartlett's tenure at the KC has come to an end[LNB]It was announced on November 10 that a deal had been agreed between Bartlett and the Allams, but it has taken a further five weeks for the process to be completed. [LNB]After dealing with Hull's debts, the new owners' first priority will be to ensure Nigel Pearson's side remain in the Championship. [LNB]The Tigers currently sit 19th in the table, three places and two points above the relegation zone. [LNB]Pearson has been assured his job is not under any immediate threat and he will be handed a limited transfer kitty in January[LNB] Crystal Palace 0 Hull 0: Profligate Eagles remain in bottom threeMiddlesbrough 2 Hull City 2: Snow joke as Tigers keep Boro out in the cold [LNB] Explore more:People: Nigel Pearson
