Omar Khan today sensationally stepped down as owner of Bradford Bulls, paving the way for local businessman Mark Moore to take the reins along with Ryan Whitcut.

Khan rescued the Bulls from financial ruin when he and former Sports Minister Gerry Sutcliffe took charge of the club in September 2012.

After a turbulent year in charge, Khan has walked away from the club citing “ill health”, leaving Moore – boss of Bradford-based online bed and mattress retailer BedzRus – to take ownership alongside Bulls general manager Whitcut.

The takeover deal, of which no figures have yet been disclosed, is subject to approval from the Rugby Football League.

Vipin Joshi has joined Khan and Bradford South MP Sutcliffe in leaving the Provident Stadium with immediate effect.

Khan last month released a substantial sum from his property portfolio to raise funds to pay the wages of players and staff for July.

That eased fears of a repeat of last year's financial meltdown but Moore, whose BedzRus firm agreed a two-year deal to sponsor the popular stand terrace at Odsal in May, will now head up a new regime.

Khan said in a statement: "Following an exciting year, it is sad that due to ill health, I intend to hand over the reins to new owners, Ryan Whitcut and Mark Moore of Bedzrus, subject to RFL approval. 

"Ryan and Mark both share the same passion as I do for the club.

"My objective, together with Gerry Sutcliffe MP, to move the club from the threat of extinction has been achieved and I have spent every single day for the past year at the club in order to reinvigorate it and bring it back to life. 

"A lot of hard work and investment has gone into Bulls and now it’s time to ensure the longevity of the club, which is part of Bradford’s Heritage. 

"The club is in a much stronger position and the time is now right to move it forward.

"Bradford Bulls will always be part of my life and I will never forget the kindness, loyalty and friendship shown to me and my family by the supporters and everyone involved at the club.

"I would like to thank all the Board of Directors who have worked tirelessly with me to save the club and can confirm that Gerry Sutcliffe MP and Vipin Joshi also intend to step down as Directors."