ANDREW Chalmers will not retain a minority stake in the new Bradford Bulls consortium, insists Mark Sawyer.

Reports in the rugby league press have claimed the former Bradford chairman would be keeping a shareholding of lower than ten per cent in the club.

But Sawyer, who is an investor in the new ownership along with Nigel Wood and his family, has denied this.

He said: "Andrew is staying on as a director in the very short term because he has just dealt with the filing of the accounts.

"What I can make clear is he will be stepping down as a director and he won’t be holding any shares in Bradford Bulls."

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Mark Kilgallon and Sandra Wood are joining the club as directors on a voluntary basis, and Sawyer said others were likely to come on board in the future, with the consortium intending on appointing a chief executive in two to three months.

The transfer of shares to the new ownership has yet to be formally ratified, with Sawyer saying: "It’s moving as quickly as it can. There are legalities and filling forms in.

"We're dealing with creditors, putting a team together and trying to open the shop and offices back at Odsal. There is a hell of lot going on. We’ve just got to stabilise things."