Exclusive: Allams' 'gift' to Hull comes at three times original cost

HULL CITY'S new chairman Assem Allam has revealed that the £40m needed to rescue the club from possible extinction this week was more than three times higher than the sum initially quoted when the initial deal was struck five weeks ago.

The Egyptian-born 72-year-old and son Ehab formally completed the buyout of Russell Bartlett's shareholding in the Tigers at 10.45pm on Thursday to end a worrying few months that saw the Championship outfit come within a whisker of going into administration.

As part of the deal, the Allams have agreed to make a 30m cash investment into Hull over the next 12 months and also provide personal guarantees against additional debts of 10m.

 

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