Owner Assem Allam, Ehab's father, has previously announced his intention to re-brand the Premier League club as 'Hull Tigers', a move the 74-year-old feels would make Hull more commercially profitable while also improving their reputation globally.
A proposal to change the club's name from next season has been formally submitted to the Football Association, but the move has been met with a furious reaction from some supporters.
Ehab Allam has now moved to further clarify the reasoning behind the decision, stating the family are looking to make the club more self-sustainable.
The letter, published in the Hull Daily Mail, read: "Most of you will be aware that on December 3, 2013 we made an application to the FA to register the playing name of the club as Hull Tigers.
"We feel that now is the right time to reassure our fans of the reasons for the application.
"With our family having lived in the area for more than 40 years, we decided to invest £24 million of our money to save the club from liquidation, and probably extinction, in 2010.
"Since this point we have invested a further £50 million to get the club into the Premier League, a competition in which we will hopefully remain. We have nothing left to give, and this is the reason why the club has to become financially self-sustainable.
"For this club to become sustainable we need further investment in the form of increased sponsorships and partnerships, and by utilising the global pull of the Premier League, this is possible.
"Currently there are six teams in the Premier League with 'City' in their name, and with the exception of Manchester City, all of those clubs are in a similar league position to us, and playing to similar-sized crowds.
"We need something that makes us stand out from the pool of teams we find ourselves in when it comes to attracting potential international sponsors, who are simply hoping to use the Premier League, and its global audience, to advertise."
