Premier League: Hull City owner claims club has been for sale since April
The Egyptian has lived in Hull since attending University in the City, and bought the club in 2010, saving them from serious financial difficulties.
Allam, whose reported worth is around £320m, has invested heavily in the squad since taking over, getting them back to the Premier League last season, as well as reaching the FA Cup final, where they led 2-0 but were beaten 3-2 by Arsenal.
However, since returning to the Premier League, Allam has courted controversy by mooting a proposed name change for the club to Hull Tigers, which he believes would be a more commercially viable brand.
He was met with strong opposition from both the FA and fans, who protested at home matches about the proposed change.
He stated that should the name change be rejected, he would put the club up for sale within 24 hours, and told the press yesterday that when the change was rejected on April 9th, the club was for sale the following day.
Allam called a press conference at the KC Stadium on Thursday and stated: "Lately there have been a lot of rumours and that is not a good thing, so I decided it was better to have a face-to-face conference and clear the air."
"We stated earlier this year that the club would be for sale should our attempt to globally promote Hull Tigers as a brand name and as a playing name be blocked."
"As a consequence of the FA decision on 9 April, I announced on 10 April, within 22 hours, that Hull City is for sale."
"I am using the wording Hull City now to show respect to the FA decision. This announcement is in accordance with my decision 10 months ago that I would walk away within 24 hours (of the name change being rejected)."
"In actual fact, it was 22 hours. When I say something, I mean it."
"We have begun the appeal against the FA's decision via the Court of Arbitration for Sport and we are hopeful of a positive outcome or that the FA reconsiders their decision."
"Until conclusion of either sale or appeal, whichever comes first, we will remain committed to the club, evidenced by the latest remarkable additions to our already very good team."
"If the appeal comes first, okay, no harm done. If the sale comes first - sold. If it comes to selling, I will sell with tears in my eyes, because I haven't finished."
he was unwilling to be specific on how much the club was valued at, but is seemingly open to any offers, should they come before his appeal date be announced.
But with the likelihood of winning his appeal far from certain, it could be that Allam will definitely remain Hull City owner much longer.