Hull City have put takeover talks on hold, meaning the Tigers will not have a new owner before the end of the transfer window.
Assem Allam (L) will remain in charge of the club for the rest of the summer
Hull City have shelved takeover talks until the end of the transfer window, as per a club statement published on the club's official website.
Assem Allam and his son Ehan have been trying to sell the club following their failed attempt have the team's name changed to Hull Tigers, which was met with fierce opposition from supporters.
Talks have dragged on into the summer months and many have been fearing the impact the takeover will have on transfer activity, especially during what is a crucial summer window should Hull hope to preserve their status in the top flight.
Hull City owner son Ehab Allam is looking to broker the family's departure from the KCOM
Last month it was revealed by the Hull Daily Mail that one of three bidding consortium groups had withdrawn their interest in taking over the club.
Up to that point, it was thought a deal had been close, however this withdrawal further heightened anxieties on Humberside with the Premier League season now just over three weeks away.
The Tigers kick off their season against Premier League champions Leicester City on August 13th.
As a result, the latest development in their takeover saga will come as a relief for some, who will pleased that Steve Bruce may now have a freer hand to bring in much needed players.
Injured: Moses Odubajo
The statement refers to recent injury problems, which has seen Allan McGregor, Alex Bruce and most recently and more worryingly Moses Odubajo ruled out until the new year with a damaged knee ligament sustained in a friendly earlier this week.
The injury to the right back has seen speculation that Hull are close to signing a replacement in Reading's Chris Gunter, according to the Sun.
And now it appears that Hull will be able to buy players without worrying about events in the boardroom.
The statement reads "to ensure stability during the transfer window, the Club can confirm that takeover talks have been placed on hold until the summer window closes.
"Whilst the owners intend to continue discussing a sale to interested parties in September, the priority for the coming weeks is strengthening the squad ahead of the start of the new Premier League season, particularly given the number injuries sustained to key players during pre-season.
As always, thank you for your continued support."
More uncertainty surrounds manager Steve Bruce
Hull may also now have to worry about the who will be in charge of the first team come the end of the summer, with Steve Bruce linked with the England job.
Should Bruce go, this would pose major difficulties for the current owners, who would be pressured to have someone in place before the end of the summer, something that may not be possible without a continuation of takeover talks.