Shrewsbury Town has announced Biscayne ST LLC, a company controlled by Miami-based businessman Scott Davidson, has successfully completed its acquisition of the football club.

Scott is joined in the new ownership group by former USA international goalkeeper Brad Friedel, The Spartans Chairman Craig Graham, and fellow Spartans director Will Dotson.

Joining the ownership group as an investor is sports entrepreneur and former professional footballer Bryan Finnerty.

Bryan, who owns Atlantic Sport Ventures, will shortly undergo the necessary Owners’ and Directors’ Tests.

Scott Davidson will take on the role of Club Chairman, while Brad Friedel will become Sporting Director. Craig Graham and Will Dotson will also initially take up positions on the club's Board of Directors.

Biscayne ST LLC has acquired 87.4% of the club's shares, previously held by Roland Wycherley MBE, who has now stepped down as owner and chairman following 30 years at the helm.

The new ownership group, alongside everyone at Shrewsbury Town, would like to place on record its sincere thanks to Mr Wycherley MBE for his outstanding contribution, dedication and tireless service to the football club over the past three decades.

His commitment and impact on Shrewsbury Town will always be recognised and appreciated by the club and its supporters.

The club's new Board of Directors will consist of Scott Davidson, Brad Friedel, Craig Graham, Will Dotson, Liam Dooley and Duncan Montgomery.

On behalf of the Board, Scott Davidson said: “We are extremely proud to begin our stewardship of this great club.

“Having spent an incredible amount of time working towards this day, and now overjoyed that it has arrived, we are filled with gratitude, hope and, most importantly, ambition for the future.

“As you know, Shrewsbury Town is a special club with a unique place in the landscape - and we believe it has limitless potential.

“To meet the opportunity, we have put together a world-class investment team of business, legal, finance and sports professionals to help guide us and support our growth.

“Paired with the outstanding staff and leadership team that is already in place, our goal is to provide the community and our supporters with a club of which we can all be proud.

“We believe in working hard, having high standards, taking nothing for granted, focusing on core values, earning support, deserving respect, continuously improving, and being competitive in everything we do.

“We expect to live up to those values and be a club that will build on the wonderful legacy we inherit while daring to attain new levels of success.

“Best to all and we look forward to seeing you soon. Floreat Salopia!”

Roland Wycherley MBE said: “It has been an honour and a privilege to serve as Chairman and custodian of my boyhood football club, which I have proudly supported since the age of seven.

“My journey began by sponsoring an advertising board behind the Tech End goalmouth, before becoming an Associate Director in 1994, Vice-Chairman and, in 1996, Chairman.

“One of the proudest moments was securing the move to our purpose-built stadium in 2007, bringing an end to 97 memorable years at the much-loved Gay Meadow.

“I firmly believe that move provided the club with a platform to progress, and we have enjoyed some wonderful moments since, including four visits to Wembley, a third-place finish in League One and welcoming some of the biggest names in football to Shrewsbury.

“The club needs new investment to build on the foundations already in place, particularly the excellent work being undertaken within our foundation and also our academy, which continues to develop exciting young talent and has a proud history of producing players who have gone on to enjoy successful careers.

“I would like to take this opportunity to thank all our supporters, everyone who has joined me on this journey and, in particular, the people past and present who have worked alongside me over many years. Your loyalty, dedication and support have meant a great deal to me.

“Now is the time to embrace a new era. I warmly welcome Shrewsbury Town's new custodian, Scott Davidson, and his team, and wish them every success in all their endeavours.”

Shrewsbury Town will provide a further update later today, outlining the plans for the week ahead as the club begins this exciting new chapter.