CEE
Ilicali buys English football club Hull City
A deal to buy Hull City has been agreed in principle between owner Assem Allam and Turkish media mogul Acun Ilicali, Hull Live reports.
In what’s a major step forward in seeing the Allam’s ownership end, it’s understood that Ilicali and his backers will pay £30m for the Championship strugglers in staggered payments, with another £20m assured should City regain their place in the Premier League within a certain time frame. An agreement has been struck in principle, Hull Live understands, but due diligence has yet to take place meaning the deal remains some way off before it can be considered completed and see the Allam family bring an end to their acrimonious relationship with supporters. There also remains various clauses to be ironed out and the full terms of the deal are still being discussed. There remains a willingness from Assem Allam to finally complete a deal for the club he put up for sale in 2014, though after a number of failed deals in the past seven years, there are reasons to be cautious about this deal being completed. RELATED
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