It probably relates to this.
http://www.not606.com/threads/hull-city-top-of-the-league.292695/
Putting myself in the shoes of a megalomaniac who is working in the best interests of the shareholders, it makes sense. Income generated from extra City fans travelling away? - £Nil. Income generated from extra away fans travelling to the KC? £000s. Kerching!
Potential hidden ignored costs from reducing team's performance at away games due to lack of support and increasing opposition team's performance at home games due to extra support? £70m.
Chance of getting "lost" home supporters to come back post-relegation under your watch? Negligible.
Business value tends towards zero. Verdict? Sell now for maximum return before you lose your shirt and you leave behind a liquidated football team (much as you effectively found it).