The father-and-son team succeed Russell Bartlett, whose three-year tenure at the club began with promotion to the Premier League but turned sour last season as the club's mounting debts were compounded by relegation back to the npower Championship.
Assem Allam said: "I'm very pleased we managed to achieve the deal. We wanted to give a present to the fans of Hull City.
"We would like the fans to be patient. Our investment exceeded what we initially thought so my plans for the club will have to be delayed."
Source: PA
Source: PA