Mike Phelan admits he “doesn’t know” the latest on the takeover and Hull City have refused to comment about fresh developments.
It is understood the Tigers are still in talks with three separate groups: a Chinese/American consortium headed by Chien Lee, who bought an 80 per cent stake in French club Nice in the summer; former chairman Adam Pearson, who is fronting a Hong Kong-based group, and another Chinese consortium, which came close to completing a takeover last month.
That deal broke down at a late stage after the Premier League had begun its owners and directors’ test, but the consortium, headed by a brother and sister partnership of Dai Yongge and Dai Xin Li, has not ended its interest.
Phelan has spoken to the current owners – the Allam family – and revealed the outlook for the future had been looking positive.
“I don’t know where the takeover is,” he said. “I don’t know whether there is one or whether it’s moved further forward or away, I don’t know.
“I had a cup of coffee and a cake with them on Tuesday, which was very good, very positive, really good signs. We were looking forward to our working relationship really moving forward.
“And then a couple of days later a couple of things changed and we’re here now.”