Russell Bartlett has agreed a deal with Assem and Ehab Allam to take control of Championship outfit Hull City.

"We are delighted to have reached agreement with Russell Bartlett to take a controlling stake in Hull City," the statement read.

"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."