A consortium, led by former Blues forward Jim Melrose, signed a deal to buy the League One club at 5pm today.
The deal was struck at the 11th hour after a rival bid collapsed.
The future of the club had been hanging in the balance after a turbulent 42 days in administration.
Scottish-born Melrose appeared 34 times and scored eight goals for City between 1984 and 1986.
Hatters’ fans will now be hoping that Melrose can convince popular former manager Jim Gannon, who was made redundant by administrators Leonard Curtis, to return to Edgeley Park.
The club will issue a statement tomorrow.
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Showing comments 1 to 7 and replies | View All
neil (12/06/2009 at 08:55)
Blimey, whatever next, former City 'legend' Derek Parlane.
Albert1 (12/06/2009 at 09:50)
dave moran, Jersey (12/06/2009 at 10:54)
BRINKSWAY BOY
Todd, heywood (12/06/2009 at 12:15)
Todd, heywood (12/06/2009 at 14:44)
LT4, Chester (12/06/2009 at 18:17)
bru50, stockport (13/06/2009 at 11:11)