Hull FC are set to be taken over by former Leeds Rhinos president Andrew Thirkill and businessman David Hood after entering into an exclusivity period with the pair.
The Black and Whites suffered an awful Super League campaign in 2024, winning just three of their 27 matches and finishing second bottom, ahead of only relegated London Broncos on points difference.
They also lost their Grade A status.
The club will hope for brighter times under Thirkill - who was at Leeds from 2018 until October of this year and whose daughter is the partner of Hull FC director of rugby Richie Myler - and Hood, with current chairman Adam Pearson staying on in a consultancy role.
Pearson, who has owned Hull FC since 2013, said on the club's official website: "I will be delighted to hand over the reins to Andrew as the club's new chairman.
"His love for the sport of rugby league and passion for success provides a perfect combination for the club to thrive once more under his leadership and guidance.
"After 13 years of ownership, it has been critically important to me to transfer the club into the right hands, and this event certainly ticks all those boxes.
"This change of ownership heralds a bright future for Hull FC. We need all of our supporters to rally together to restore unity and pride in our famous club.
"The new owners have committed to provide sufficient funding to allow the club to regain its Grade A status and provide the club with a new management structure and team to improve its ranking in that grade."
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