Crewe Alexandra have confirmed the buyout of majority shareholder Norman Hassall has now been completed.
The club have confirmed the news, saying they will finalise 'the reorganisation formalities in due course'.
A statement from the club continues: "With the deal completed, the new and existing members of the board are committed to accelerating the club’s growth in what is sure to be an exciting future on and off the pitch.
"The club will plan to make a more detailed statement following the conclusion of the first full board meeting scheduled for March."
After a fundraising campaign, fan group The Railwaymen Supporters Society raised £250,000 to purchase a stake in the club.
They have released this statement: "If there wasn’t already enough love in the air for Valentines Day, The Railwaymen Supporters Society are delighted to announce today we have now purchased our full 10% stake in Crewe Alexandra Group Limited (CAGL). It fills us with immense pride to purchase the shares after all the hard work that has been put in by the board and fans over the last few months to make this dream a reality.
"We always said that we would like to keep you as up to date as possible throughout the process and we thank you for your patience after all the excitement over the last couple of weeks especially.
"As you may have seen, some of the new Directors have already been appointed to CAGL and we are sure more information will follow on this. Our next step is also to be elected to the board and now the shares have been purchased, we will be looking to do this in the near future.
"In addition to this we will be contacting all members directly via email or post around the 28th February with more detailed information about your membership and the Society.
"This is an exciting time for all the members of the Railwaymen Board, our Members and all of the Crewe Alexandra fans. We cannot wait to work alongside the new look Board of Directors of CAGL to help shape the future of the football club!"