Walsall taken over by American firm Trivela Group

The major, shock development sees Trivela initially acquire 51 per cent of shares in the Saddlers.

No figures have been given, but within the next two years, they will then acquire a further 25 per cent shareholding from Pomlett and provide the cash to buy the freehold to the Bescot Stadium.

Trivela, a US sports investment firm, were set up last year and are 'building towards a multi-club ownership model in global football'.

A new Walsall era

Trivela are based in Birmingham, Alabama and were formed by American businessmen Benjamin Boycott and Kenneth Polk.

Boycott will join Walsall's board of directors and serve as co-chairman with Pomlett, who will stay on for four years to help with the transition.

"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.

“We are here to learn, and we are here to support Leigh and the rest of the executive leadership team with strategic vision and strategic capital.

"We look forward to working alongside the leadership team to support Michael Flynn, the staff, and players as we prepare for the 22-23 campaign and beyond.”

Pomlett has been in discussions with Trivela over the last year and has now agreed to the two-phase sale.

Trivela's executive leadership team consists of managing director Benjamin Boycott, vice president of operations and strategic partnerships Wesley Hill, vice president of global football Matt Jordan, and vice president of project management William Boycott.

The team will 'play a role in supporting the club moving forward, on and off the pitch'.

Trivela co-founder Polk is also the founder and CEO of Arlington Family Offices, an investment business which holds more than US $12 billion in capital for its investors.

End of Pomlett's reign

The move brings an end to Pomlett's three-year tenure after he took over from Jeff Bonser in 2019.

“This partnership with Trivela Group ushers in a very positive chapter in the history of Walsall Football Club,” said Pomlett.

“Stefan Gamble and I have been in discussion with them for nearly 12 months, have visited them in the United States, and believe that they are the right group with the right vision to help take the club forward.

"The supporters will have the opportunity to see the impact of this partnership firsthand, as the Saddlers Club will be refurbished and reopened, and the club will execute its purchase option and be reunited with the Poundland Bescot Stadium freehold.

"As both chairman and a supporter, this is a very exciting day for Walsall Football Club.”

Walsall are due to hold a press conference on the change of ownership at Bescot tomorrow from midday.