A new hybrid variational model for recovering blurred images in the presence of multiplicative noise is proposed. Inspired by previous work on multiplicative noise removal, an I-divergence technique is used to build a strictly convex model under a condition that ensures the uniqueness of the solution and the stability of the algorithm. A split-Bregman algorithm is adopted to solve the constrained minimisation problem in the new hybrid model efficiently. Numerical tests for simultaneous deblurring and denoising of the images subject to multiplicative noise are then reported. Comparison with other methods clearly demonstrates the good performance of our new approach.