Hartlepool United have confirmed that contracts have been exchanged on Raj Singh’s proposed takeover of the club.

The Teesside businessman has finalised negotiations with previous owner John Blackledge (Sage Investments) and will be installed as the new owner and Chairman of Hartlepool United.

Talks between the two parties have been ongoing for a number of weeks but contracts were exchanged on Friday evening and the deal is now subject to Football Association and National League approval.

As part of the re-organisation, former Pools boss Craig Hignett will return to Victoria Park in a new role as Director of Football.

Source: www.hartlepoolunited.co.uk

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