Hong Kong-based consortium nears Hull City takeover as Chinese owners move on the Premier League once more

Chinese consortium informs the Hong Kong stock exchange that a takeover is imminent

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Hull City’s The Kingston Communications Stadium. The club are on the verge of being taken over by a Chinese consortium. Photo: Reuters

Published: 5:07pm, 20 Oct 2016Updated: 5:24pm, 20 Oct 2016

Hull City owner Assem Allam has agreed terms on the sale of the club to a Hong Kong-based consortium, according to reports in the UK.

A notice was filed with the Hong Kong stock exchange on Wednesday giving details of a conditional £130 million (HK$1.2 billion) agreement for the takeover of the club by Greater China Professional Services, a Hong Kong listed company, and Camsing Global.

The notification stressed that no legally-binding agreement is yet in place.

Mike Phelan (R) was named as the manager of Hull City last week after being placed in temporary charge and overseeing a good start in the Premier League. Photo: Reuters

Owner Allam put the club up for sale in 2014 after the English FA refused his request to rename the club Hull Tigers following a backlash from the club’s fans. He initially purchased the club in 2010.

A deal with a separate Chinese consortium was thought to have been in place last month before talks broke down at an advanced stage as the English Premier League was preparing to complete its ‘fit and proper persons’ test of all prospective new owners.

Hong Kong-based consortium nears Hull City takeover as Chinese owners move on the Premier League once more

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Chinese consortium informs the Hong Kong stock exchange that a takeover is imminent

Chinese consortium informs the Hong Kong stock exchange that a takeover is imminent