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The son of former Fleetwood Town owner Andy Pilley has taken over the Lancashire club after the English Football League (EFL) finalised the deal.

Willows 96 Holdings Ltd has purchased 98% of the shareholding in the club with Jamie Pilley as the sole shareholder.

He takes over after his father Andy was sentenced to 13 years in prison for fraud in July 2023.

The EFL said Jamie Pilley had been given a suspended three-month ban to act as a club director due to the circumstances surrounding the events leading up to Thursday's ownership change.

In a statement, the league said: "The primary issue was that Mr Andrew Pilley had previously directed that his son Mr Jamie Pilley should be appointed as a director of both Fleetwood Town and Jaymel Ltd, which owned 98% of the club’s shareholding, alongside giving him power of attorney with club voting rights.

"Jamie Pilley was subsequently investigated for a breach of regulations.

"A charge was accepted and by way of an agreed decision - applied under EFL regulations – Mr Jamie Pilley has been handed a three-month suspended ban to act as a club director."

Despite this, the club said that the proposed acquisition of the league's Owner's and Directors' Test.

Jamie Pilley's ban will become effective, however, should there be any further breach of the test before June 2025.

Satisfaction of the requirements is subject to the adherence to "certain undisclosed financial requirements", the league added, as well as the appointment of Fleetwood Town Community Trust chairman Peter Murphy to the board as an independent director.

Fleetwood's change of ownership comes after they were relegated from League One following a dismal campaign in 2023-24.

Their change in ownership formally brings an end to Andy Pilley's time at the club, having owned the Cod Army for 20 years.

Under Pilley's ownership, the club climbed out of non-league football, into the EFL and eventually English football's third tier.

"I’m delighted and honoured to have secured the long-term future of Fleetwood Town with today’s news that the takeover of the club has now been completed," Jamie Pilley

"I’d like to thank all the people who have made this possible with incredible hard work over the past 13 months, and to the EFL for their assistance during the process."