The Egyptian businessman has plunged an estimated £80 million of his own money into the club - initially saving them from administration before bankrolling Steve Bruce's side into the Premier League.
Despite an impressive top-flight return and a run to the FA Cup final, headlines out of the KC Stadium were dominated by Dr Allam's desire to change the club name to Hull Tigers - a bid which was rejected by the Football Association in April.
Dr Allam has since put the club up for sale, and claims to have fielded interest, but is expected to stay if an appeal to reverse the FA's decision is successful.
However, the owner has suggested the lavish spending which has seen the club break their transfer record five times under his stewardship is to be frozen until he gets his way.
"That [the spending] stops now. It has to stop," Dr Allam told BBC Sport.
"I won't pay out if I cannot create income. That is called 'throwing money at it'.
"We have had interest but it was not from what I would like to call good homes. This club means a lot to me.
"I will do my best to sell it to a good home."
Dr Allam claims the inability to change the club's name has already seen Hull miss out on cash through sponsorship deals, though this contrasts with claims from his son and vice-chairman Ehab in March that no offers had been made to specifically sponsor a new 'Hull Tigers' brand.
But the elder Allam claimed: "One of the sponsors offered, in writing, without mentioning names. Now the day we lost the FA ruling, they withdrew their offer.
"The replacement bid was £1m a year less for the first two years. Am I supposed to pay this? To cover this? The answer is no."
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