Keith Fairbrother's eight-year reign at Coventry has come to an end after the former England prop sold the club and its site to Reading-based businessman Andrew Green.
According to Fairbrother, who became involved in the club when they were experiencing financial difficulties in the late-1990s, the ties have been well and truly severed and he will have no influence over the National One team or the parent company, Butts Park Ventures.
Though Green emerged as a bidder for Coventry just over a year ago, he takes control a mere ten days before the start of the 2006-7 season.
Yet both parties believe the new regime is the start of a bright future for one of rugby's most famous teams.
"I am fully committed to my new role," said Green. "I am greatly look forward to continuing the culture of improvement and to working with the players, supporters and sponsors to secure a great future for this famous club, on and off the field.
"Rugby has always been my passion, whether playing, watching or managing and I am proud that I am now associated with this great club and its illustrious history."
Fairbrother pointed out the sale was about sport and not property development, as some have suggested.
"It is a real rugby-focused deal," Fairbrother said. "Andrew is an out-and-out rugby man who has been successful in sport and business. It is the ideal combination. It is a rugby deal and not a property deal."