Hull have confirmed that Adam Pearson has completed a deal to take over the club, signalling the departure of Kath Hetherington from the club.
Pearson, who is heavily involved with football team Hull City, has taken outright control of the club by purchasing the entire shareholding from the previous shareholders.
The transition is likely to be a smooth one, with chief executive James Rule remaining in his post, together with Finance Director Tony Sutton and Community/Marketing Director Jon Flatman.
Pearson said: “I would like to express my pleasure at completing the acquisition of Hull FC today and thank the outgoing board under Kath Hetherington and the RFL for the professional and confidential manner in which they handled this change of ownership.
“I have now purchased the entire shareholding of Hull FC and will be investing further funds into the club in order to ensure it can now kick on and develop into one of the very strongest Super League clubs.
“Hull FC has a strong tradition in the game and now needs to progress and develop into a major force in the domestic and international game.”
The takeover was approved by the RFL Board of Directors earlier today.
RFL Chief Executive Nigel Wood said: “On behalf of the RFL I would like to welcome Adam Pearson to the sport and congratulate him on the beginning of what I’m sure will be an exciting new chapter in the history of Hull FC.
“The former directors at Hull FC did a terrific job to establish the club as one of the most successful in Engage Super League and I am sure Mr Pearson, with all his experience in sports administration, will continue that sterling work.”