Lee Power has sold the Waterford club to R&S Holding Ltd, owned by Richard Forrest this week.
Forrest held a 33 percent stake in the club since earlier in the year and the remaining shares were transferred to him this week.
The former owner Lee Power made a statement on leaving:
“I would also like to think that I have left the club in a much better place than when I purchased it in 2016 when we were in the first division, attracting crowds of 200 and close to going out of business.”
— Waterford FC (@WaterfordFCie) June 4, 2021
Waterford are ‘sleeping giants’
The Blues finished in fifth place in the League of Ireland last year but have only won two games this campaign.
This could give a much-needed boost to a team sitting rock bottom after 14 games.
This a long way off the team that qualified for the Europa League in 2019 but were controversially replaced with St. Patrick’s Athletic.
Forrest said he will invest in the first team as keeping premier league football is a priority at the club.
Rumours have spread that the owner is already in talks with his son, George Forrest on a move to Waterford.
The 21-year-old central defender has played for Crawley Town but was released by Braintree Town this year.
With a new owner and new investment, will there be enough time for Waterford to salvage their season.