Super League club Hull FC was taken over on Wednesday by two businessmen who are reportedly worth a combined £500m.

The club, which lost its IMG Grade A status after the conclusion of the 2024 season, has been taken over by former Leeds Rhinos president Andrew Thirkill and businessman David Hood.

The pair entered into an exclusivity period in November with former owner Adam Pearson, whose spell in charged spanned 13 years. The Black Cats won just three of their 27 matches in 2024 and finished level on points with bottom-placed London Broncos, albeit Hull had a better points difference (-566 vs -599).

Hood will join the board, Thirkill will become chair and Pearson will become a consultant.

Hull investment

“It gives me great pleasure to confirm that I am handing over custodianship of this great club to such responsible and worthy individuals as Andrew Thirkill and David Hood OBE,” said Pearson.,” Pearson said.

“I feel incredibly fortunate for them to have agreed to have taken on the responsibility of the future security and prosperity of the club.

“Both have been the ideal purchasers, exemplified throughout a respectful and confidential handover process, which I am pleased to announce has now been finalised.

“It should be recognised that the new shareholders have not only undertaken to inject substantial sums of money into the club, but have also agreed to take no monies from the club for at least a three-year period.

“Therefore with immediate effect, I am delighted to say that all receipts that come into our club will now be directly benefiting the club, allowing further investment into our playing roster. The club is in a very fortunate position as we look to rebuild.”

Hood, chair of Leeds Bradford-based private aviation company Multiflight, is reportedly worth £320m while Thirkill, founder of Age Partnership, is worth a reported £175m.