Thursday 13 June 2019 15:57, UK
Simon Sadler has bought Blackpool after purchasing a 96.2 per cent share in the League One club.
A statement from joint receivers Paul Cooper and David Rubin said Sadler's takeover has received both Football League and High Court approval.
The club's former owner, Owen Oyston, who was removed from Blackpool's board of directors by the joint receiver in February, no longer has any shares in the club.
Sadler, a lifelong Blackpool fan, has also purchased "100 per cent of Blackpool Football Club Hotel Limited" as well as the football stadium, all of its related property, and the training ground.
The statement said: "In Mr Sadler, the Joint Receivers are confident that they have found a purchaser who will be a custodian of the Club's proud heritage as well as a steward for its future development.
"Born and raised in Blackpool, Mr Sadler has been a lifelong fan of the Club having watched his first game at Bloomfield Road in 1977 at the age of eight, as well as being present at Wembley on 22 May 2010 to witness the Club earn promotion to the Premier League. He is committed to the long term development of the Club.
"Michael Bolingbroke, Ben Hatton, and Ian Currie will remain on the Board of Blackpool Football Club Limited to be joined by Brett Gerrity. Tim Fielding will be an advisor to the Board.
"The Joint Receivers would like to thank the management, staff, all those involved in the running of the Club and the loyal fan base who continued to support the Club during many challenging years. Today is a momentous day for Blackpool, the Club and the fans, who are at the very heart of this community."