Hull City have announced on their official website that the club has entered a period of exclusivity for due diligence to take place, amid talk of a potential takeover.
The announcement by the club follows recent media speculation that has suggested that a takeover could well be on the horizon for the East Riding of Yorkshire outfit.
A recent report by the Yorkshire Post has suggested that Turkish businessman Avul Illicali has already completed his takeover of the Tigers, which suggests that another significant update could be just around the corner if that news proves to be true.
It is said that Illicali is due to pay an initial £30 million to acquire the club, with a further £20 million due to be paid if Hull are promoted back to the Premier League.
Current owner Assem Allam is a hugely unpopular figure at the MKM Stadium, with there being regular calls for the Egyptian to leave his post from the club’s supporters.
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The club went on to state that no further comment will be made at this time, only adding to the speculation that there has been a breakthrough in negotiations between the two parties.
This is certainly an update that should be taken with a pinch of salt by the Hull City supporters as it doesn’t necessarily mean that a takeover is done and dusted, but it does appear to be a big step forwards.
It is certainly the most significant update with regards to a takeover takin g place ever since the speculation first surfaced, which means the Tigers could be in for an exciting few months ahead.
Allam remains to be an unpopular figure and the feeling now is that he has reached the end of his time with the club.
This deal could be the making of the club and help them to become re-established at not only Championship level but also in the Premier League in the long term.