Bradford City have confirmed that the takeover of the club by German investors has been completed.
Edin Rahic and Stefan Rupp both flew to England to finalise the deal with joint chairmen Julian Rhodes and Mark Lawn, who will now leave the club.
Rahic has been named as Bradford's chairman and chief executive and will move to the country in order to take a hands-on role at the League One outfit.
"Both myself and Stefan have a background in business and sport, and after looking at a number of clubs in England, Bradford City had the potential and fan base that interested us most. We do not have plans to make big changes but to work with the existing structure. We have seen the way the club and fans interact and the model of affordable football is very important to us," read a statement from Rahic.
"I met with (manager) Phil (Parkinson) this morning and we had a very encouraging discussion about the future. We understand there is a lot to do over the summer and we must manage expectations of the fans in the short term. We are looking forward to working with everyone associated with the club and respect its traditions."
Bradford chief operating officer James Mason added: "This is a new era in the history of Bradford City football club. Both my team and I will be giving our new owners all the support the club needs to succeed. I'm sure the fans will do the same."
Bradford, who were relegated from the Premier League in 2001 before plummeting down the divisions, finished fifth in League One this season but were beaten by Millwall in the playoff semi-finals.
Barney Corkhill
