The Newcastle Jets have been saved after confirmation on Tuesday that Melbourne-based consortium Maverick Sports Partners has bought the embattled A-League club.
The sale is subject to approval by Australian Professional Leagues (APL) and regulatory processes by Football Australia, including a fit and proper persons test.
However, the club is confident those approvals will be a formality, ending a takeover process that kicked off more than eight months ago.
Maverick Sports Partners are headed by Maurice Bisetto, who played a major role in the establishment of A-League club Western United.
"We believe in this club, the A-Leagues and its players and we're determined to build success for the Jets and this region," Bisetto said in statement.
"We have been impressed by the strength of football here in this region. We know there is a strong historical fan base and a strong participation base here and we want to bring all of these people together for our men's and women's games."
The Jets future had been in the balance after APL chairman Stephen Conroy said in March that the operating body would not be in a position to fund the club if new owners were not secured.
Confirmation of the takeover will bring relief to the club's players and staff, who have been in limbo.
"Today is a hugely significant day for this club and this community, as we confirm Maverick Sports Partners as the new owners of the Jets," chief executive Shane Mattiske said in a statement.
"Over the last three years, we have built a strong foundation for the future of this football club, and it is exciting to be beginning a new era with incoming owners who believe in the opportunity that exists with this club, with this community and with football as a whole.
"Throughout our process, Maurice Bisetto, the consortium representative, and his partners have demonstrated a deep understanding of football and how to bring success. They also understand this community and their plans are very much aligned with the work that is already underway."
Key personnel, including A-League head coaches Rob Stanton and Ryan Campbell are expected to be retained.
The news is also likely to trigger a number announcements regarding player retention and recruitment.
Stanton said at the end of the season that his young team, who finished 10th in their first campaign under his coaching after six wins, 10 draws and 11 defeats, had "a lot of potential" and had "laid some good foundations".
"If we can start from that same starting point as where we finished, I think we have a bright future next year," he said.
The Jets men assemble for preseason training on June 24.
The club's women's side are fresh from making the finals for the first time since 2018.
Previously the Jets have been owned by lone benefactors, Con Constantine, Nathan Tinkler and Martin Lee, whom all encountered financial difficulties.
