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Hull sold for £1

Hull sold for £1

By Eurosport
Last update 17/12/2010 at 02:03 - Published on 16/12/2010 at 22:25
By Eurosport - 17/12/2010 at 02:03

Hull City has been sold for £1 just three years after the club was bought for £10 million.

The Hull Daily Mail reported that former Tigers owner Russell Bartlett has sold his controlling interest in the club for a nominal sum to local businessman Assem Allam and his son.

Essex-based property tycoon Bartlett bought the club in 2007 from Adam Pearson as part of a consortium involving Paul Duffen. Duffen left the club last year in acrimonious circumstances that led to Hull beginning legal proceedings against Duffen.

As part of the deal the Allams will pay off the club's estimated £21m debts, with a tax bill of £833,000 already having been paid and £9m expected to be handed over straight away.

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