Dr Marwan Koukash has completed his takeover of Salford City Reds, little more than 24 hours before their first Super League game of the season.
The millionnaire race-horse owner has been locked in talks to rescue the club over the past few weeks, and has now finalised the deal.
He will hold talks with Peel Holdings over the ownership of the Salford City Stadium, which the Reds groundshare with rugby union club Sale Sharks, over the next few weeks.
Koukash said: “I have not purchased Salford city reds just to save the club. I have done so because I want it to succeed.
“Anyone who knows me from horse racing knows how much winning means to me. I want to replicate that success here at Salford.”
Salford have lost a host of players since the end of last season, although they have managed to add three new faces to their squad this week, in the shape of Jack Murphy, Rhys Williams and Ryan McGoldrick.
Their first game of the season takes place at the Salford City Stadium on Friday against Wigan Warriors.