An Asian consortium is looking to buy English Premier League club Hull for 130 million pounds (US$160 million).

A document on the Hong Kong stock exchange said GreaterChina Professional Services has entered into a "heads of terms agreement" with Hull's Egyptian-born owner, Assem Allam, relating to the sale of the northern club. The document, dated October 13, said completion of the deal is subject to approval of the Premier League and the English Football Association, and that the agreement is not legally binding.

GreaterChina Professional Services is an investment holding company providing services to public and private companies and individual investors, mainly in Hong Kong and China.

The company said buying Hull "would open up numerous opportunities for the group to expand and diversify its business and revenue stream," especially in Chinese media advertising. Hull was promoted to the EPL last season.

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