Barry Hearn has completed the sale of his stake in Leyton Orient Football Club to Francesco Becchetti.
Hearn’s company Matchroom Sport Ltd’s 90pc shareholding in the Club has passed to the Italian businessman, who will become the Club’s new chairman.
Hearn, his son Eddie, Steve Dawson and David Dodd have resigned from the board of directors whilst Matthew Porter has stood down as Chief Executive but will remain as a director of the Club.
Sports promoter Hearn acquired a controlling stake in Leyton Orient from Tony Wood in March 1995, making him one of the longest serving owners in English football, during which time the Club’s stadium has been rebuilt on three sides and the team has established itself in League One, following promotion in 2006.
A full announcement regarding the Club’s new board of directors and a press conference with Barry Hearn and Francesco Becchetti will follow on Thursday.
In League One, Leyton Orient took on Wolverhampton Wolves at home. First-half goals from Richard Stearman and Bakary Sako put Wolves on top at the break, but an early reply from Dean Cox gave Orient some hope.
In the end those hopes were dashed - with a decisive three nil win for Wolves. The results puts them at the top of the table.
West Ham will not be able to block Leyton Orient agreeing a separate deal to rent the Olympic Stadium, the League One club's chairman has disclosed.
Barry Hearn said the news had emerged from a meeting he had had with the London Legacy Development Corporation (LLDC).
West Ham won the bid to be the anchor tenants but Hearn said the LLDC had confirmed the Premier League club could not block other companies or clubs agreeing deals to use the Olympic Stadium when it was not being used by the Hammers.
Hearn told Press Association Sport: ""I was not sure if West Ham were guaranteed to be the only football club using the stadium and the breakthrough news for me was that the answer is no, they are just a tenant".