Acun Ilicali’s stance on selling Hull City now revealed as £60m stumbling block presents major problem

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Hull City’s financial troubles could derail their chances of staying in the Championship next season after narrowly surviving relegation in 2024/25.

Hull made a promising start to the summer transfer window with some smart additions, including the permanent transfer of Gustavo Puerta and the signature of free agent Semi Ajayi.

However, fan positivity was soon unravelled as Hull were hit with a three-window transfer embargo last week for failure to maintain payments to other clubs. It means they can’t currently spend fees on new players, resulting in the Tigers pausing their recruitment.

Turkish owner Acun Ilicali is confident that the restrictions will be eased as Hull have appealed their transfer ban, but given the depth of their problems, it feels unlikely that the EFL will overturn the decision.

So, with City’s Championship future looking as bleak as Sheffield Wednesday’s, Ilicali’s stance on selling the East Yorkshire outfit has now been revealed.

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Hull City have held talks over a sale but Acun Ilicali is owed £60 million

In a report published by The Athletic, journalist Phil Buckingham has claimed that Ilicali’s media company ‘Acun Medya’ have ‘held exploratory talks over a sale’, while ‘an experienced football financier has also been involved in negotiations on behalf of at least one interested party’.

It is stated that any prospect of Hull being sold hinges on Ilicali’s stance on the debts of £60 million owed to Acun Medya by the club. This presents a major stumbling block in any negotiations, as the Tigers don’t own the MKM Stadium and have limited assets.

“Acun Medya isn’t actively looking to sell the club, but naturally, there is huge demand for English football clubs, so there will always be interest from other parties, especially after the investment we have put into the club,” said a club spokesperson.

“Our chairman told fans the club is losing money and he is supporting when required. The club will always have his full backing whenever it needs it.”

Considering City are in a vulnerable financial position, the chances of a sale happening anytime soon look incredibly slim.

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Ilicali still owes money to the Allam family

Ilicali developed a positive relationship with the Allam family, Hull’s previous owners, after purchasing the club in January 2022.

Though the above report has revealed that Ilicali still owes money to the Allams if add-ons from players sold under his ownership were realised.

One of those was Jarrod Bowen, who left Hull in 2020 to join West Ham United. He’s since become a star winger in the Premier League and for England.

Several add-ons, including goals scored and international caps, have seen West Ham’s commitment rise by £3m, but very little of the money has been passed to Ehab Allam.

Ilicali has gone against the agreement to transfer money, creating more problems for himself, in what is an incredibly chaotic time in East Yorkshire.