Acun Medya has completed the purchase of Hull City.
The acquisition has been approved and ratified by the English Football League and sees Acun Medya take full control of the club with immediate effect.
Acun Medya Group, established in 2004 by creative force, entertainment and sports enthusiast, digital platform owner and operator Acun Ilıcalı, is an international production company and broadcasting group.
Ehab Allam, departing vice-chairman of Hull City, said: “We are happy and proud to be leaving Hull City on a strong and stable financial footing. During our tenure, we have worked hard to create a sustainable model and successful academy set-up, giving the club the foundations it needs for the future.
“The ability to develop and trade homegrown talent is an integral part to a sustainable football club, and we look forward to seeing more and more players follow that pathway at Hull City.
“There have been lots of ups and downs over the last 11 years or so, but we will take some very fond memories with us. Memories of some of the greatest achievements in the club’s history and ones we have been privileged to be a part of. We have worked with some excellent and hard-working managers, players and staff and I’d like to pass on my thanks for all of their efforts over the years.
“The time has now come for a new owner to take up the mantle and I’d like to wish Acun and his team the very best for the future. We have taken a very business-led approach to running the club and I truly hope Acun can rebuild the relationship with the fanbase and also bring back the success on the pitch that fans crave and deserve.”
Acun Ilıcalı, founder of Acun Medya, said: “I am happy that I have fulfilled one of my biggest dreams today. We are starting a beautiful journey with Hull City. We have many big dreams and goals to achieve together with our fans. I would like to thank the Allam family for the friendship and sincerity they have shown during this process. I genuinely believe that we will achieve success with the amazing fans of this beautiful city.”
Councillor Daren Hale, leader of Hull City Council, said: “Hull City Council welcome today’s announcement, following a period of exclusive negotiations and due diligence, of the sale of Hull City AFC to Acun Ilicali.
“I would like to congratulate Mr. Ilicali on his acquisition and very much look forward to meeting and welcoming him and his team to our city, and to finding out more about his ambitious plans for the club.
“The council has long recognised the importance of professional sport to Hull, with all the benefits it brings in terms of community pride, raising Hull’s profile in the UK and around the world and being a catalyst for attracting visitors and inward investment to our city.
“The construction of the stadium by Hull City Council back in 2002, which I was personally involved with, in order to secure the futures of both Hull City and Hull FC, was a substantial demonstration of that commitment and we very much look forward to working with Mr. Ilicali and his team to ensure both clubs and the stadium have bright futures ahead of them at the centre of our community.
“I would also like to take the opportunity to thank Assem and Ehab Allam for their custodianship of the club since 2010.”