Bristol Rovers have announced a change of chairman ahead of the new season after businessman Mr Hussain AlSaeed purchased 55% of the club's holding company.
Speaking after the announcement was made on Thursday 3 August, Mr AlSaeed said: "I am privileged to join Wael as a partner of BRFC.
"I have been a huge football fan for many years, and it has always been my ambition to own a stake in a club.
"BRFC is the one club that I most desired to be a part of, due to its great fanbase and future potential."
The move will see Wael Al Qadi, with 40.5%, and Samer Al Qadi, with 4.5%, remain as co-owners Jersey-registered holding company Dwane Sports.
It will also see them remain part of the ownership at the club.
Mr AlSaeed added "From this day on, I assure the fans that we will be working tirelessly on the sustainability and growth of the football club.
"Rovers are a club with huge potential that is still untapped, and it is our duty to make sure that we do everything possible to improve the current state.
"I have really enjoyed my time in the lovely city of Bristol, and I hope to contribute to the community in the best manner possible.
"I would like to take this opportunity to thank all of our beloved fans for their continuous support to the club. I look forward to meeting you all at our first home game of the upcoming season."
News had emerged of potential investment at Bristol Rovers over recent days with Mr Al Qadi confirming he was in talks with an interested party.
Speaking of the announcement the club president said: “I am delighted and honoured to welcome on board Mr Hussain and Mr Abdullatif AlSaeed.
"This has been a long process to get to this stage to ensure that the changes are suitable for all parties and give us the best possible chance for success.
"I am sure that you will all join me in welcoming our new investors to the club and giving them all of your support to help us achieve our aims.”