Waterford FC are in new hands after former owner Lee Power confirmed that he has sold 100% of the club to a UK company.

The move brings an end to Power's five-year spell at the helm of the club, having taken over in 2016.

Under Power's ownership the club were promoted to the Premier Division and also finished in the Europa League places in 2019 before they were denied a licence from UEFA to play in the competition.

However in more recent times, Power appeared to step back from the club, with manager Alan Reynolds, who had led Waterford to that fourth place finish in 2019, resigning due to a lack of communication between him and the club's owner.

Power announced the sale of the club in a statement which read: "I am confirming that Waterford FC have sold 100% of its shares to R & S Holding Ltd who are a UK-based company headed up by Richard Forrest. Earlier in the year, Richard purchased 33% of the football club and the remaining shareholding was agreed over the weekend.

"I would like to thank all the staff, supporters, and businesses of Waterford that have supported me and the football club throughout my time."

Forrest added: "Waterford FC is a sleeping giant that has instantly won my heart. I can't wait to work closely with Marc and his staff, the fans, and local businesses to drive this club forward and create an amazing journey for the club and the local community."

Mitchell Cowling, who has acted as a business consultant to the new owner in the past, has been appointed chairman of the club.

Waterford are currently rooted to the bottom of the Premier Division with 12 defeats from their 14 games so far this season and have changed their manager, with Marc Bircham taking over from Kevin Sheedy.