CAIRO: Egyptian brothers Assem and Ehab Allam have agreed to take control of English Championship side Hull City.
The businessmen announced on Wednesday that the deal, which is set to go through by the end of the month, had been made with owner Russell Bartlett.
"We are delighted to have reached agreement with Russell Bartlett to take a controlling stake in Hull City," the Allams said in a statement.
"More details of the agreement will be made public in due course. For the time being, it is important to stress to everyone, especially the supporters of Hull City, that we see our role as bringing financial stability to the club to help clear the outstanding debts and to enable it to survive and flourish.
"Our strengths are in business expertise and financial management. We will leave the football decisions to those who know best.
"The arrangements mean we will take over the club’s debts and we have set aside funds for working capital and to secure new players in the January transfer window.
"The financial stability of the club and its long-term success is of paramount importance to us both."
Should the deal be completed, it will be the second time for an English to be owned by Egyptians; the first of which was in 1997 when Mohamed Al-Fayed bought Fulham.
Egypt striker Amr Zaki spent an unfruitful six-month loan period at the KC Stadium last term, which saw the club relegated from the Premier League.
The Tigers, managed by Nigel Pearson, are currently 20th in the Championship, only one point off the relegation zone.
