Thursday 9 June 2016 13:03, UK
Sale Sharks have confirmed the club has been acquired from Brian Kennedy by new owners CorpAcq Ltd, led by Simon Orange, brother of ex-Take That member Jason.
The Scottish businessman has been in charge of the Salford club since 2000 and within six years of that development they became Premiership.
Sale also won the European Challenge Cup in 2002 and 2005, and Kennedy thanked employees and fans of the club for helping in the success during his tenure.
Having finished sixth in the top flight last season, Sale will play in the 2016-17 Champions Cup.
"Sale have performed resiliently over the past 16 years under the ownership of Brian Kennedy and now we believe we can build on this success and take Sale Sharks to another level," Orange said on the club's official website.
"With our planned investment I think we can close the gap between Sale Sharks and the teams above us.
"We intend to establish Manchester as a Premiership rugby region. The academy is one of the best in the Premiership...and we plan further investment in order to strengthen it.
"I hope rugby fans from the region will support Sale Sharks and help us to build a dominant northern powerhouse both on and off the field."
Kennedy said: "The last 16 years at the helm of this great club has been a great privilege. We have had many wonderful moments' particularly winning two European trophies and the Premiership championship for the first time in the clubs history," Kennedy said.
"I would like to thank our remarkable employees, players and coaches over the years with particular mention of Dave Swanton, Lisa Robinson, Paul Smith, Alan Blease, Robbie Dickson, Pete Anglesea and of course Steve Diamond.
"These folks were with me pretty much from day one and have proved to be the foundation of the club and I'm sure will go on to support the new owners with the same dedication shown to me.
"I would also like to thank our sponsors over the years and the Premiership Rugby team who have grown the game centrally to the current dynamic level.
"Finally, I thank the supporters and the supporters club for the tremendous backing and dignified support they have given to our club, and to me personally, over the years through good times and difficult times.
"My business partner Ian Blackhurst and myself now hand the club over debt free and in healthy order to Simon Orange and his substantial business group CorpAcq.
