London Irish hope to return to professional rugby as early as next season with new owner and chairman Steve Daniels vowing to put the club "firmly back on the rugby map".
Daniels' Gamechanger Investments has purchased the club's name, brand and associated intellectual property from Kyle Jordan, son of late former Formula 1 team owner Eddie Jordan, and Daniel McKeown, who had been involved in efforts to revive the club since it went out of business in 2023.
The takeover marks a fresh attempt to bring the Exiles back into the professional game, with chief executive Jamie Balls saying the new owners would welcome a place in the Championship, English rugby's second tier, at the "earliest opportunity".
"If next season were an opportunity and they would allow us to do so, we would like to go then. If it's not, then we'll wait another year," Balls told BBC Sport.
The club had previously explored joining the United Rugby Championship, which features teams from Ireland, Scotland, Wales, Italy and South Africa, but those ambitions met resistance within the game.
Balls said the Championship would offer a more realistic starting point, allowing the club to rebuild before considering what comes next.
"London Irish is a huge name in rugby and means a great deal to a lot of people," said Daniels. "We want to get the club back where it belongs - on the pitch and competing again.
"We are determined to get the foundations right and build a club that is competitive, sustainable and gives supporters something to believe in. We want London Irish firmly back on the rugby map."
An old home for an old name
There is still plenty to resolve, not least where London Irish would play, having previously held home fixtures at Brentford's Gtech Community Stadium from 2020-2023 and Reading's Select Car Leasing Stadium before that.
The group is considering existing stadiums for the short term as well as the possibility of building a new ground, although Balls declined to identify the sites being explored.
One option is Hazelwood, the club's former training base in Sunbury-on-Thames, Surrey.
The 53-acre site was developed to accommodate both professional and amateur rugby, and the new owners are in negotiations over its future.
"We'd love to have that back, that site has potential for us," Balls said.
However, he added London Irish do not currently own Hazelwood and that the process was ongoing.
A rugby man with a business mindset
New owner, Steve Daniels, 47, co-founded energy business PE Solutions with two partners after entering the utilities market about a decade ago.
The company reportadly grew to a turnover of £1.4bn within seven years, and Daniels has since stepped back from the business to pursue other investments.
Described as a "rugby man through and through", highlighted by his involvement in the community game and his support for the sport through his business interests.
Although Balls said there was "a serious amount of money" behind the project, he insisted the intention was not simply to rely on a wealthy backer to fund the club indefinitely.
"He doesn't want to be seen as a sugar daddy," he said.
"What he wants to see is, if you want X amount of millions here, you show me how that's going to become sustainable."
That approach comes after years of uncertainty for London Irish supporters.
The club entered administration in 2023 after financial difficulties left it unable to meet its obligations, ending its time in the Premiership.
The women's team is also intended to return, with the ambition of reaching Premiership Women's Rugby.
For now, however, the priorities are securing a competition place, establishing a home ground and putting the right financial foundations in place.
"We didn't get it right in the past." Balls admitted. "But we will get it right going forward."