A US-based consortium led by former Goldman Sachs managing director Peter Grieve is understood to be the frontrunner, with reported interest also coming from China and Thailand.
But Hull will focus on reinforcing their squad as a priority, with a knee ligament injury to captain Michael Dawson the latest in a string of long-term issues to hit Steve Bruce's squad.
If Hull remained in takeover talks during the transfer window, any prospective signings would need to be approved by both the current owners – led by controversial chairman Assem Allam – and the incoming group.
"To ensure stability during the transfer window, the club can confirm that takeover talks have been placed on hold until the summer window closes," a statement released by Hull read.
"Whilst the owners intend to continue discussing a sale to interested parties in September, the priority for the coming weeks is strengthening the squad ahead of the start of the new Premier League season, particularly given the number injuries sustained to key players during pre-season."
On Tuesday, Hull confirmed Bruce had held informal talks with the Football Association over the vacant England manager's job.