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Hull City ‘agree’ £130m sale to consortium

Hull City's KCOM Stadium

Hull City returned to the Premier League in May after just one season outside the top flight

The sale of Hull City appears to have moved closer after a document filed to the Hong Kong stock exchange detailed a conditional agreement for a £130m deal with a Far East consortium.

The Yorkshire club, owned by the Allam family, has been for sale since 2014.

BBC Radio Humberside understands former Hull chairman Adam Pearson is associated with the consortium.

A sale to another group collapsed last month after it failed to meet the Premier League’s owners’ test.

Hull did not confirm the details of the document when contacted by the BBC.

The document, dated 13 October, shows Greater China Professional Services Limited, a company listed in Hong Kong, and Camsing Global have signed heads of terms – that outlines details of a formal contract – with Hull’s parent company Allamhouse Limited.

It stresses, however, that there is “no legally binding agreement” at this stage and the sale remains conditional upon obtaining the consent of the Premier League “among other conditions”.

Hull, promoted via the play-offs in May, are 16th in the Premier League after taking seven points from their opening eight games of the season.

Long-time caretaker boss Mike Phelan was last week named head coach on a deal until the end of the season.

Article source: http://www.bbc.co.uk/sport/football/37710620