Sir James Dyson has acquired a 50% stake in Bath Rugby which will see the billionaire industrialist commit "substantial" new capital into the English champions.
Dyson, 78, a long-time supporter and regular at The Rec, will form a new ownership partnership with Bruce Craig who bought the club 17 years ago.
"Bruce deserves enormous respect for rebuilding the club to be the force that it is today and I am not here to change that. I am here to support, just as I have for the past 45 years but now with greater commitment and responsibility," Dyson said in a statement on the club website.
"My family and I are proud to stand alongside Bruce as equal partners to further strengthen the foundations of Bath Rugby, realise the new stadium and help ensure its future. Bath Rugby matters deeply to this city and its wonderful supporters who are the most dedicated in the land."
He added: "This is the club I have supported for most of my life. My children and my grandchildren do so too. I stood on the terraces and have watched the high moments as well as the difficult years."
Craig, who oversaw last season's historic treble which included a first league title in 29 years, believes Dyson's investment will strengthen Bath further.
"James understands Bath Rugby first and foremost as a supporter and a friend. His family has stood behind the club for decades and it always felt inevitable that our paths would align in this way," Craig said.
"I will continue to run Bath Rugby and together we will strengthen its foundations, realise the new stadium and build the club for generations to come."
The move was welcomed by Prem Rugby bosses.
"This is great news for Bath Rugby and their loyal and dedicated fans," said Prem Rugby CEO Simon Massie-Taylor.
"This announcement is testament to the stewardship of Bruce Craig and his leadership team at the club and confirms just how attractive Prem Rugby now is to investors."
