CITY have formally announced Stefan Rupp and Edin Rahic as the new owners of the club.

Rahic will move to England with his family and base himself at Valley Parade working alongside chief operating officer James Mason.

Rupp is expected to stay in Germany in the immediate future but will make regular visits and be fully involved in club affairs.

Rahic said: “Both myself and Stefan have a background in business and sport, and after looking at a number of clubs in England, Bradford City had the potential and fan base that interested us most.

“We do not have plans to make big changes but to work with the existing structure. We have seen the way the club and fans interact and the model of affordable football is very important to us.

“I met with Phil (Parkinson) this morning and we had a very encouraging discussion about the future.

“We understand there is a lot to do over the summer and we must manage expectations of the fans in the short term.

“We agreed the season-ticket prices before we took over because we fully support the idea of cheaper ticketing and having witnessed games here at the stadium we know how passionate the fans are.

“We are looking forward to working with everyone associated with the club and respect its traditions.”

Mason added: “Both my team and I will be giving our new owners all the support the club need to succeed. I’m sure the fans will do the same.

“It's a testimony to how we have developed over recent years under the stewardship of both Julian Rhodes and Mark Lawn that the club is an attractive business proposition.”

An exclusive interview with Rahic will appear in tomorrow's Telegraph & Argus.