Mr Pearson was Chairman of football at Derby County and also a shareholder of its parent company. This will be his second spell in charge at Hull City, he was previously Chairman of the club between 2001 and 2007 during which time the club went from near bankruptcy in the second division to the Championship.

Andrew Borkowski, the Partner who advised on the deal said: “Geldards are proud of our association with Adam Pearson and Hull City FC and look forward to working on future projects.

“This is a hugely popular move with fans, players and staff at Hull City who now have a great deal more optimism with Adam at the helm of future developments at the club.”

Mr Pearson said “I'm delighted to be back in charge at Hull. I'm already pleased with the direction the club is taking and the spirit and belief within the club, the players and the supporters.".

"Geldards' hard work and expertise ensured my transition into this role was pain free and I thank them for that."