HARTLEPOOL UNITED have been taken over by JPNG, who have replaced Increased Oil Recovery, the club’s owners for the last 18 years.

The recruitment and consultancy firm, with offices in London and Dubai, completed the formalities of the deal and Gary Coxhall has been appointed chairman.

Pools Chief executive Russ Green will remain in his position. 

Pools were the subject of a planned takeover in December, when TMH 2014 were announced as new owners, but that deal was later blocked by chairman Ken Hodcroft after concerns were raised about the deal.

Hodcroft stood down on Friday. The new owners have promised to back boss Ronnie Moore, who has already signed six players this summer and is in the market for another four.