Huddersfield Town chairman Ken Davy will hand over control of the club to local businessman Dean Hoyle at the end of next season.

Davy will continue in his role until the Terriers have completed their centenary celebrations and will then transfer ownership to lifelong fan and millionaire entrepreneur Hoyle, who will then take over as chairman.

Davy said in a club statement: "Dean will be injecting significant funds into the club alongside myself. This promises to be a fruitful and exciting partnership for Huddersfield Town.

"We both believe that Huddersfield Town has great potential to move forward and that our combined resources will give the club a unique opportunity to progress in the centenary season and beyond."

Hoyle added: "Becoming chairman-elect is both a great privilege and an exciting opportunity.

"I'm very optimistic about the future and share Ken Davy's determination to see the club progress.

"Being able to combine our investments in Huddersfield Town will deliver real benefits to the club and its supporters."

Hoyle, in takeover talks since January, has over the last 10 years built the Card Factory into one of the country's largest retail operations, employing more than 5,000 staff.

Davy will retain a minority shareholding in the club.

TeamTalk / Eurosport