Local businessman Allam has revealed detailed plans to build a complex, which would include a hotel, tennis, squash and gymnastics facilities, an Olympic-size swimming pool and a multi-story car park, around the club's current KC Stadium or on the back of a new 40,000-capacity stadium at Melton.
Allam, who would first have to buy the KC Stadium off Hull City Council, told the Hull Daily Mail: "I want to do this for the community. The idea behind the sports village is that it will become a day out for the whole family. People of all ages will be able to come and play here.
"I want to see our younger generation only go home to eat and sleep, rather than hanging around on street corners."