We've updated our Privacy and Cookies Policy
We've made some important changes to our Privacy and Cookies Policy and we want you to know what this means for you and your data.
Wael Al-Qadi: Bristol Rovers president takes full control of club
Image source, Rex Features
Bristol Rovers president Wael Al-Qadi has taken full control of the club, leaving it "substantively debt free".
The Jordanian has bought a controlling stake in the League One side's holding company - Dwane Sports - capitalising 拢34.9m worth of loans.
Al-Qadi has also written off 拢2.1m of interest on the loans, meaning Rovers' only debts are ordinary trade creditors and leasing agreements.
As recently as March, Al-Qadi said the club had debts of more than 拢24m.
Rovers finished 14th in the 2019-20 League One season which was curtailed by the coronavirus pandemic.
In a statement made in March, he aded: "The impacts of this virus will hit all areas of the economy hard and football clubs are no different.
"However, along with our executive team, I am doing all I can to ensure that everyone within the Bristol Rovers family is as secure as possible."
As part of his takeover, the club's commercial director Tom Gorringe - and media and communications consultant Karim Mardam-Bey - have become board members, with all changes ratified by the English Football League.