By AP
HULL, England: An Egyptian family has completed the protracted takeover of second-tier English side Hull.
Local businessmen Assem and Ehab Allam initially struck a deal on Nov. 10 to purchase the northern club, which is reported in the British media to have debts of around £20 million ($31 million), from then-owner Russell Bartlett.
Hull, which is in 19th place in the 24-team League Championship, confirmed on Friday that the buyout has been completed.
Assem Allam, who runs diesel generator manufacturer Allam Marine with his son Ehab, has a personal fortune of £150 million ($230 million), according to this year’s Sunday Times Rich List.
Hull was relegated from the Premier League at the end of last season.
