Hong Kong-based company Y11 Sports & Media are the new majority shareholders in Ospreys.
They’ve bought a 75.1% stake in the Welsh club in what they call a “multi-year, multi-million-pound deal”.
Y11 claim the goal of their investment is the "long-term transformation" of the South Wales regional side.
The new investors describe themselves as: "an industry leader in sport business and sport brand management and specialise in leveraging unique properties with specific potential in media and technology integration."
Ospreys chairman Rob Davies will keep his role at the club, and he'll now be a part of an pre-existing group of shareholders who will have a 24.9% holding in the club.
Y11 CEO, James Davies-Yandle, along with his business partner, financier Donald Tang have both joined the Ospreys board as directors.
Ospreys say they've kept the Welsh Rugby Union in the loop about the deal.
The Swansea-based club came close to being merged with Scarlets in 2019, before the prospect was ultimately scotched.
Davies said of the move: "For some time now we’ve been planning a radical shift of gear and, from that, over 12-months of hard work and strategic planning has led to this new partnership with Y11.
"It was essential we found a partner who shared our ambition and vision, but with the cultural understanding, expertise and resources to propel the region and community all into a new era. We needed to secure the success of the past, whilst embracing fully the future and that is what we are now doing together. We’re thrilled by the opportunities ahead.”
"We are confident all our stakeholders and partners will be as excited about this development as we are.
"We have confided in the Welsh Rugby Union Executive and kept them fully aware of this development and now we look forward to planning for the Ospreys future."
