Consortium leader Ken Davy today completed legal paperwork on a protracted multi-million pound buy-out of the troubled football club.

The Huddersfield Giants rugby league club supremo immediately announced admission and season-ticket prices would remain the same as last season for the new campaign, which kicks off against Cambridge at the McAlpine a week on Saturday.

Bondholders - who lost their cash when the club went into administration on March 31 with debts of £20m - are to be offered one free season during any of the next three years.

The takeover clears the way for Town's Football League licence to be granted and for the club to come out of administration as soon as administrators Begbies Traynor can prepare an application to the High Court - probably in two to three weeks.

"This is a wonderful day for everyone connected to Huddersfield Town and, hopefully, we can go forward with the support of the whole community now this long, hard and expensive process of rescuing the club has been achieved," said Mr Davy today.

"Everything is in place for agreement with the players' union, the PFA, for payment of every penny of the arrears (£1.4m), and all details are now in place which should mean the transfer of the Football League `share' to the new company is a formality.

"It has been exhausting getting to this stage, but hopefully we can now build the club on a solid basis and the community as a whole will benefit from that."

Mr Davy said shareholdings in the stadium company - 40% Town, 40% Kirklees Council and 20% rugby league club - would remain unaltered.

He confirmed manager Peter Jackson's 10 new signings - wiping out the budget - could now complete contracts after earlier signing letters of intent.

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