Sale Sharks has been sold to a Manchester-based investment company.
Previous owner Brian Kennedy has relinquished his 16-year grip on the club and sold it to Simon Orange, the brother of ex-Take That member Jason Orange and the owner of CorpAcq.
Brian Kennedy and Ian Blackhurst, who were both co-owners , took over in 2000 and helped build a side that won the European Challenge Cup in 2002 and 2005.
Sale, who will play European Champions Cup rugby next season after finishing sixth, also won a maiden Premiership title in 2006 during their tenure.
Simon Orange said:”Sale have performed resiliently over the past 16 years under the ownership of Brian Kennedy, and now we believe we can build on this success and take Sale Sharks to another level.
“With our planned investment, I think we can close the gap between Sale Sharks and the teams above us.”
He continued: “I hope rugby fans from the region will support Sale Sharks and help us to build a dominant northern powerhouse both on and off the field.” CorpAcq is a Manchester based corporate acquisitions and investment company controlled by Simon Orange.
Director of rugby Steve Diamond predicted a “very bright future” for the club following the takeover deal.
“We want to grow this club and coming off the back of a good season is a great time to do it,” he added.
Brian Kennedy commented: “The last 16 years at the helm of this great club has been a great privilege. We have had many wonderful moments’ particularly winning two European trophies and The Premiership championship for the first time in the clubs history.
“I would like to thank our remarkable employees, players and coaches over the years with particular mention of Dave Swanton, Lisa Robinson, Paul Smith, Alan Blease, Robbie Dickson, Pete Anglesea and of course Steve Diamond. These folks were with me pretty much from day one and have proved to be the foundation of the club and I’m sure will go on to support the new owners with the same dedication shown to me. I would also like to thank our sponsors over the years and the Premiership Rugby team who have grown the game centrally to the current dynamic level.
“My son Jonny Kennedy has in the last couple of years worked tremendously well with the coaching team in recruiting our strongest squad for many years and driving the commercial activities to create a business that is self-sustainable with a first class academy developing organic talent in the North West.
“Finally, I thank the supporters and the supporters club for the tremendous backing and dignified support they have given to our club, and to me personally, over the years through good times and difficult times. My business partner Ian Blackhurst and myself now hand the club over debt free and in healthy order to Simon Orange and his substantial business group CorpAcq. We are confident Simon and his team have the right credentials, energy and passion to take the club to the next level and we wish them and the club the greatest of success in the future.”