A takeover deal is set to be completed in the next 14 days for struggling rugby league outfit Wakefield Trinity.
In a statement on the club's website chairman John Minards revealed that an agreement has been reached with Matthew Ellis subject to legal completion.
Minards said: "I am delighted that we have reached agreement with Matt for this deal to go through following months of discussions and working together through what has been a very difficult time on the field.
"Please join me in welcoming Matt and his family as the next custodians of the institution that is Wakefield Trinity."
Ellis' takeover of the club was first touted months ago and in that period he has been working at Belle Vue on the club's advisory board.
His company DIY-Kitchens, an online kitchen retailer and manufacturer, sponsored the club's kit from 2020.
Having secured just eight points from 27 games, relegation to the second tier was compounded by a 56-12 home defeat to Hull KR in their latest outing yesterday.
Ellis said: "I am sure just like myself and everyone associated with the club you are feeling deeply saddened by the club ultimately failing to maintain Super League status for the first time since 1999.
"We now need to move on to the next chapter in the club’s history, it is my intention to complete the takeover of the club in the next 14 days.
"I have supported the club since going to watch a game at Oakwell in 1999 where we successfully beat St Helens. I am originally from Barnsley but I have lived in the Wakefield area since 2010.
The new owner also released a bullet-point list of his ambitions at Trinity on the club's website. A handful of them include:
Appoint Daryl Powell as the new head coach on an initial 4-year deal.
Invest finances in the club to allow us to have the budget to maintain a full-time playing squad and to bounce back into Super League and then challenge to be a top 6 Super League club in the coming years.
Raise the number of supporters to fill the stadium.
Fully utilise the new East Stand and facilities and put on events for everyone to enjoy.
Ensure our youth, women’s, PDRL, LDRL and Wheelchair teams get the support required to succeed.
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