Assem Allam and his son Ehab bought the Championship club for £40m in November.
In a statement Ehab Allam said: "Now that deal h as been successfully completed we need to look to the future, the future for sport in this city and the region generally. To enable our plans for the club to succeed, we need to make significant investment in the ground and the facilities and to do this we will require ownership of the stadium. It is common knowledge that it was designed with a view to be extended to accommodate a capacity crowd of approaching 40,000 and we would like to see this happen sooner than later.”
The stadium was opened in 2002 with 25,000 seats and cost £46m to build. It was funded by the sale of Kingston Communications.
Hull City Council leader Carl Minns has been reported as being prepared to discuss a sale. "The Allams are very serious players in the area. Of course we will listen to what they have to say," he said.
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