The buyout price for Hull City is being raised.

The price has risen to £120m as four parties look to acquire the Premier League club.

The Hull Daily Mail report that the Allam family are not in a rush to sell and the price of the club has increased due to interest from several bidders.

It is also reported that any deal seems unlikely to happen before Christmas, which raises questions over Mike Phelan's future.

Phelan has been in caretaker charge and is yet to sign a deal to make him full-time manager.