Truro City have confirmed that contracts have been exchanged for its purchase by the rugby union club Cornish Pirates.
The clubs will continue to operate with separate boards and management, with Truro City to play at Treyew Road for the foreseeable future. The White Tigers had been groundsharing with Torquay United at Plainmoor earlier this season in a less-than-popular move.
The club, who are currently eight points above relegation in the Vanarama National League South, say the purchase is still awaiting final National League and FA approval, but negotiations have been underway for six weeks.
Dicky Evans, who is majority shareholder of the Cornish Pirates, said: “As we worked through the Stadium for Cornwall business plan, it became apparent that this was an obvious move for us.
“Peter Masters and Pep Perryman have been supportive throughout the process and there is a strong desire to make this a success. This purchase secures the future of professional sport in Cornwall.
“We have said throughout that the Stadium for Cornwall is for all sport and not just rugby, and this news confirms that position. We all share a passion to bring professional sport of the highest level to Cornwall and to create pathways for young people to achieve their dreams of playing professional sport in the county.
“I want to ensure staff, players and the fans of Truro City FC that we will be continuing growth at the club and ensuring it can play at the highest level possible. I also want to personally thank all of those involved in both clubs for their continued support as we enter a new and exciting time for sport in Cornwall.”