American sports investment firm Trivela have bought the controlling stake of Walsall.
The group, based in Birmingham, Alabama, have bought 51 per cent of chairman Leigh Pomlett’s shares.
The parties have been in discussion for a year and will also buy a further 25 per cent of the Saddlers within two years.
It will also allow the club to trigger their purchase option on the stadium.
Founder Benjamin Boycott will join the Saddlers’ board as co-chairman with Pomlett, who has agreed to stay on for four years as part of the transition process.
“We are honoured to become a part of the community of Walsall and to play a part in the rich history of this club,” said Boycott.
“As investors, we are extremely drawn to the passion that this town has for the team and extremely impressed with the work that management has done to build a sustainable football club.”
Walsall finished 16th in Sky Bet League Two last season.
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