Former Leeds winger Francis Cummins is set to take over as Bradford head coach as the Bulls prepare to go on trial in 2013.
The Bulls were given the green light to continue in Super League on Friday but will do so without Mick Potter, the man who guided them through their mid-season crisis, after he opted to return home to Australia.
Potter, who worked unpaid for the last three months of his spell at Odsal after being made redundant, admitted the long, drawn-out saga over the club's future had "wore me down" as he called time on his seven-season stay in England.
But the former Catalan Dragons and St Helens boss heard the news of Bradford's Super League lifeline shortly before boarding a flight for Sydney.
The Bulls were given a probationary 12-month licence by the Rugby Football League's board of directors for 2013, finally removing the threat of relegation to the Championship and effectively putting the new owners on trial.
Bradford's honorary chairman Gerry Sutcliffe, a former Sports Minister and local MP, welcomed Friday's announcement.
"It's good news for the fans and for Bradford and now it's all systems go," he said. "We can start to implement our business plan and sell season tickets."
One of the club's first decisions will be to appoint a new head coach and it seems certain they will take the advice of Potter, who recommended his right-hand man Cummins for the job. Sutcliffe said the club would be announcing Potter's successor on Monday.
Potter backed Sutcliffe and chief backer Omar Khan to succeed in transforming the fortunes of the four-times Super League champions, but warned it could take several years of hard toil before they see the fruits of their labours.
"The new owners seem to have a passion and a love for the club and they will take the club forward," he said. "It will be difficult for a couple of years but the new owners understand how hard this business is to break even and to keep your head above water."