Bradford’s administrator Brendan Guilfoyle has confirmed the sale of the business and assets of the club to Omar Khan.
OK Bulls Limited have bought the business for an undisclosed sum, believed to be around £150,000, to rescue the troubled Super League club.
Although Khan is listed as the sole director of the new company, he is supported by a consortium which includes MP Gerry Sutcliffe.
Guilfoyle said: “This is a great achievement for Bradford Bulls, the players, fans and the city of Bradford.
“My main duty as administrator is to get the best return for creditors, and this was the best deal on the table.
“Omar Khan has also passed the Rugby Football League’s test as being a ‘fit and proper person’ to run a rugby club as well as being a passionate fan of the Bulls.
“I am really pleased that we were able to retain the playing squad without selling off young stars – which in the end was a crucial decision to achieve the sale,” continued Guilfoyle.
“There are many people to thank in making this deal possible, not least employees, coaches and the interim chief executive who have all been working without pay.
“But I’m sure they would join me in saying the fans’ support has been outstanding and they have played a major part in this rescue. And through all this the players have won an extraordinary string of matches.”
The Bulls have been in administration since late June, and were handed a six point deduction from their points tally.