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Hull city president Assem Allam said he had put an end to a club takeover as proposed buyers were unable to provide long-term financial guarantees. .
Allam has been looking for new owners since April 2014, a decision taken originally after his attempt to rename the Hull Tigers club was rejected by the Football Association.
A number of parties have nearly bought City at that time, former president Paul Duffen becoming the last suitor in the fall backed by Saudi investors.
This buyout operation however reached its peak before Christmas, leaving however to Allam the control of a club that he had initially saved from the liquidation threat of eight years ago.
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Hull City Takeover News
Aged 79, who runs the club alongside his son and vice president, Ehab, remains open to a City Challenge sale for a Premier League promotion, but a takeover offer was denied after alleged owners unknown, he had only funds to buy the club.
"I could have sold it and got my money, but I refused," Allam told BBC Radio Humberside.
"We had a potential interest, agreed on a price to pay the loan and saying" How much will you put in the club? "They said," That's all, "so I said," Sorry, no. "
"I need the future of the club here because after all, I did (I would not want to see) the club unable to survive."
Duffen hoped to return to KCOM Stadium after being president of the club between 2007 and 2009. A period of due diligence was initiated, but no agreement could be finalized in the weeks leading up to Christmas.
"You mention Paul Duffen but it did not work," added Allam. "The money is not there."
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