Ospreys have announced that Asian-based sports marketing group Y11 Sports & Media has bought a 75.1 per cent stake in the Pro14 club.
Chairman Robert Davies continues in his role with the region with chief executive James Davies-Yandle and financier Donald Tang joining as new directors as a new holding company Ospreys International Group has been established.
The Liberty Stadium based outfit has been in search for a new investor since the proposed merger with Scarlets was ruled out in 2019 and now Davies believes the multi-million pound investment will lead to the transformation of the club.
"Since the advent of regional rugby, the Ospreys have always aimed to be its pioneers.
"We haven't been afraid to do things differently and to push the envelope. Today's announcement is us doing the same again.
"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".
The founder of Y11 Sports & Media Davies-Yandle is excited about the association with Ospreys as he believes the club has a high potential.
"Rugby's potential has been overlooked for too long as other sports have been nimbler at seizing commercial opportunities to power success on the pitch with revenues off it.
"But the environment is changing quickly and rugby is on the verge of going through the same type of evolution as other sports before it.
"The Ospreys, from a standing start, have gone on to be one of the most exciting brands and teams in rugby. Of all the clubs we've seen, its potential to fully emerge and take the next step is far beyond that of its peers.
"We want to help it make that journey and be a part of that journey by investing in a root and branch transformation of the Ospreys, to ensure it leads the next wave of the game.
"It's an exciting time for the Ospreys: its team, its supporters, the organisation as well as for the game of rugby."