Eric Perez is new Bradford Bulls chairman as buy-out completed

Canadian Perez founded Toronto Wolfpack and recently took over Hemel Stags ahead of relocating them to Ottawa for the 2021 League 1 season.

Bradford, understood to have more than £750,000 of debt, have been in special measures since August and recently left their traditional Odsal home due to crippling costs.

They have already agreed to play at Dewsbury Rams in 2020 and a new consortium has now taken them on after agreeing a deal with Chalmers.

A club statement read: “Today the Bradford Bulls can confirm that the sale of shares has been agreed between the new consortium and the old shareholders.

“With this we can now confirm that the restriction on signing players has now been lifted.”

The RFL added: “The RFL can confirm that following the submission and agreeing of the club’s operating budget for 2020 has been agreed.

“This means the element of special measures that restricts the registration of player contracts has been lifted.

“As part of the sale, the new consortium has appointed Perez as the club’s interim chairman.”

Perez said: “It’s an honour to be working with an iconic brand like the Bradford Bulls.

“I am here on an interim basis to facilitate the transition between the new ownership and the old regime.

“I have been given special dispensation from the RFL to take on the interim chairmanship as Hemel is dormant for the 2020 season, and this in no way undermines the Ottawa club that is slated to enter League One in 2021.”