Hull Football Club have confirmed they have been snapped up by former Leeds Rhinos chairman Andrew Thirkell and businessman David Hood.
The Black and White endured a horrific Premier League campaign in 2024, winning just three of their 27 matches and finishing second from bottom, only ahead of the relegated London Broncos on points difference.
They also lost their first division status.
The club is hoping for brighter times under Hood and Thirkell, who was at Leeds from 2018 until October this year and whose daughter is the partner of Hull Rugby Club director Richie Myler.
Thirkell will replace Adam Pearson as the club's new chairman, with Hood also joining the board.
“It gives me great pleasure to confirm that today I am handing over the custodianship of this great club to responsible and worthy individuals such as Andrew Thirkell and David Hood,” Pearson said.
“I feel very fortunate that they have agreed to take responsibility for the future security and prosperity of the club.
“They were both ideal buyers, exemplified by a respectful and confidential handover, which I am pleased to announce has now been completed.”
Pearson, who has owned Hull since 2013, revealed that Hood and Thirkell will not take any money from the club for three years, including no salary, management fees, loan repayments and interest.
He continued: “It must be recognized that the new shareholders have not only pledged to inject large sums of money into the club, but have also agreed not to take any money from the club for at least three years.”
“Therefore, I am pleased to say, with immediate effect, that all revenues coming into our club will now directly benefit our club, allowing further investment in our player roster. The club is in a very fortunate position as we look forward to rebuilding.”
“I would like to sincerely thank the Board of Directors, off-field staff, our corporate partners and supporters for their incredible support of me and this fantastic club throughout my ownership over the past 13 years, and I wish the whole club and its staff every success moving forward.”
Sky Sports It will once again show every Premier League match live this season – including two matches in each round exclusively live, with the remaining four matches shown each week on Sky Sports+
