Hull owner Assem Allam says he put the club up for sale 22 hours after the decision to reject a change of name for the team was announced in April.
The Egyptian addressed the media at the KC Stadium on Thursday and said he would either sell the club or stay in place if the appeal against the decision to block the change of name to Hull Tigers was reversed at the Court of Arbitration for Sport.
He said he remained committed to the club until either the name was changed or a sale was completed, whichever came first. He did not reveal what price he was looking for to sell.
Allam said: "Lately we have seen a lot of rumours around and I've decided it's better to clear the air.
"We stated earlier this year that the club would be for sale if our attempt to globally promote Hull Tigers as a brand name and playing name be blocked.
"As a consequence of the FA's decision on April 9 I announced within 24 hours, actually within 22 hours, that Hull City is for sale.
"I am using the wording Hull City now to show respect to the FA decision. This announcement is in accordance with my decision 10 months ago that I would walk away within 24 hours (if the rebrand was unsuccessful).
"In actual fact it was 22 hours. When I say something I mean it."
Allam added: "We have also begun the appeal against the FA decision with the Court of Arbitration for Sport and we are hopeful of a positive outcome, or that the FA reconsider their decision.
"Until the conclusion of that appeal or the sale, whichever comes first, we will remain fully committed to the club.
"If the appeal comes first, okay, no harm done. If the sale comes first - sold."
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