Far East takeover of Hull City 'at advanced stage'

Hull City owners Assem and Ehab Allam have reportedly taken a big step towards selling the club after holding advanced talks with Far East investors.

The Tigers have been seeking new backers since the club was put up for sale in April 2014 when the Football Association rejected a planned proposal to rename the Humberside outfit.

According to the Hull Daily Mail, discussions with an interested consortium from China and Hong Kong are ongoing, with brother and sister pairing Dai Yongee and Hawken Xiu Li leading negotiations.

It is claimed that the siblings formally tabled an offer to buy City last week, while a group representing the party visited the club's training ground yesterday and are hopeful of further progress in the coming days.

An exact sum to purchase managerless Hull is unknown, and a payment structure has also yet to be agreed, which could further delay a deal being finalised.