Owners of Hull City hit by £40m sales drop
Allamhouse, the company of the football club Hull City Tigers, experienced a significant dip in turnover last year following the club's relegation to the Championship.
Revenues for the football club declined from £89.5m to £64.5m. The club states this was a direct result of the clubs one year relegation and loss of revenues from television and advertising rights.
Though the club has made a return to the Premier League, the footballing side as been named the worst prepared side in the division, failing to make a single signing during the summer alongside manager Steve Bruce walking out just three weeks before the start of the footballing season.
The two listed directors of Hull City Tigers, Ehab and Assem Allam, seem keen to offload the footballing business, and it was announced last week that a Chinese consortium led by businesswoman Hawken Xiu Li and her brother Dai Yongge was in advanced talks to buy the club.