Thursday 10 March 2016 13:15, UK
Dean Holdsworth's Sports Shield consortium have completed their takeover of Bolton Wanderers for an initial £7.5m.
Holdsworth will become the Trotters' new chief executive and take on the running of the club from former owner Eddie Davies. Ken Anderson will become the club's new chairman.
Davies is also understood to have written off £170m owed to him by the football club.
"We would also like to thank the staff, fans and club sponsors for their continued support during what has been an incredibly difficult period for all involved," Holdsworth told the club's official website.
"Securing the club's future was of paramount importance. This is a great day for Bolton Wanderers Football Club and Sports Shield.
"We very much hope that we can build on the continued support of a club steeped in history for many years to come."
Davies said: "It has been an honour to have initially been on the board of directors and then majority shareholder of the club I have supported all of my life.
"From 11 years in the top flight and seeing us topple some of the Premier League's greatest teams down the years, to two successful UEFA Cup campaigns, my memories will last a lifetime.
"Together we have had some great experiences and we should embrace our wonderful history."
He added: "I of course wish Dean Holdsworth, Ken Anderson and the Sports Shield consortium all the very best and thank the supporters for their loyalty and continued backing of the club."
On Tuesday, the Football League gave their approval to the deal going through and the Sports Shield group were asked to provide evidence of future funding for the club should they suffer relegation to League One in May.
Bolton currently sit bottom of the Championship, 10 points from safety with only 10 matches remaining of the season.
Bolton were in the High Court on Monday where a winding-up order issued by HMRC over an unpaid tax bill of £2.2m was adjourned for 14 days.
It was the third delay to the winding-up order and was given to provide Davies with extra time to complete the sale of the club, which has now been completed.