Hartlepool United have confirmed the arrival of JPNG as the club's new owners.

The appointment has been in the pipeline for the past few days, after outgoing Increased Oil Recovery agreed to sell the League Two outfit.

Gary Coxall has been named as Hartlepool chairman, while Peter Goldberg has joined the board of directors at Victoria Park, alongside Russ Green who remains as chief executive.

JPNG will take over with immediate effect from IOR, who had been in place at the club for the past 18 years.

"I am delighted and extremely excited to be able to help lead Hartlepool United forward," Coxall said. "It's a deal that we have been working on for the past three months and we're really pleased that it all completed on Friday and we can start to implement our plans.

"This is a very well-run Football Club and we aim to build on the positive momentum created by the finish to last season and the great work done on the transfer front so far during the summer.

"JPNG will not be coming in here to make wholesale changes; the players that Ronnie Moore targeted before we arrived are still the players he'll be targeting going forward."

Hartlepool narrowly avoided relegation from the Football League last season, finishing four points above the drop zone.