Oldham Athletic has been sold by Abdallah Lemsagam to a new owner.
The National League side has been taken over by Frank Rothwell after the deal was first agreed at the end of June.
Oldham also confirmed they are at an "advanced stage" to purchase Boundary Park stadium, "hopefully within the course of the next week".
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The club will be chaired by Mr Rothwell, the Oldham-based owner and founder of Manchester Cabins.
In a statement, Oldham Athletic said: "This is a significant and hugely exciting development in the proud history of Oldham Athletic and ensures the club can now approach the new season and beyond with a genuine sense of anticipation.
"The necessary Owners and Directors Test has been passed and the sale will be ratified by the relevant football authorities.
"The Rothwell family has this afternoon met with representatives from supporter groups and look forward to engaging further with fans to share their vision for the future.
"The Rothwell family would like to place on record their thanks to their financial due diligence advisors RSM and legal due diligence advisors from Knights PLC.
"The club and the Rothwell family would like to recognise the efforts of both of the selling parties in their co-operation throughout the process, and also thank supporters, community and council and the other parties involved in the transactions for their patience and assistance."
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