HULL CITY: Allam named in football's top 30 richest men
HULL City owner Assem Allam has today been named as the 28th richest man in British football, with an estimated wealth of £287m.
Mr Allam, who bought the Tigers with his son Ehab last December, ploughed more than £20m into the club immediately to clear debts when buying from Russell Bartlett.
His takeover of the club prevented the Tigers from going into administration, with a winding-up order having being served on the club by the Inland Revenue at the time.
It is thought his total investment since taking control has now topped £50m, including £10m this year on paying off old transfer fees, plus a further £6m on new players.
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Mr Allam's estimated worth puts him ahead of the likes of David Gold at West Ham, who is a place below with an estimated worth of £250m, and Wigan owner Dave Whelan, who has an estimated wealth of £190m and is in 33rd place.
Mr Allam has recently been involved in a public spat with councillors at Hull City Council over his plans to build a £120m Sports Village at the KC Stadium.
To do so, he has asked for ownership of the stadium, something which the council has refused.
The magazine says: "Assem Allam's family spent £31m acquiring the Tigers in December 2010. The club is now debt-free. So is Allam, who left his native Egypt in 1968 and took over a long-established Hull diesel engine group in 1981, renaming it Allam Marine.
"A manufacturer and supplier of industrial and marine generators, it made a record £17m profit on £132m sales in 2010 and is easily worth £220m.
"The Allam family also owns a small development company with £2.3m net assets and £46m of personal property.
"With Hull City included, the Allam family is worth £287m."
The Rich List is compiled by Philip Beresford, who is compiler of The Sunday Times Rich List.Together with his team of researchers, Beresford combines the company accounts of both quoted and private companies to search for the top 100
Top of the pile is Manchester City owner Sheikh Mansour, with the magazine reporting he is worth £20billion.
Chelsea's Russian billionaire owner Roman Abramovich sits fourth on the list, with FourFourTwo reporting his fortune grew by £2.9bn over the year to reach £10.3bn.
Malcolm Glazer, the controversial owner of Manchester United, has reportedly increased his fortune by £110m to remain ninth on the list.
Liverpool owner John W Henry, whose consortium completed their buy-out of the club just over a year ago, is the highest new entry on the list, with the American going in at 20th.
Former England captain David Beckham's wealth has grown by £35m to give him a personal fortune of £135m according to the FourFourTwo list, making him the wealthiest player on their list and 42nd overall.
Michael Owen and Rio Ferdinand remain second and third on the players' list, with Ferdinand's United team-mates Ryan Giggs and Wayne Rooney fourth and fifth respectively.
England boss Fabio Capello's reported fortune of £38m puts him top of FourFourTwo's managers list.