The club thanked previous owners, Kernow Sport Ltd, for the work they did to ensure their survival.
Truro City Football Club has new owners.
They were taken over by the Canadian consortium Ontario Inc., which also owns Cornwall RLFC.
New Chairman Eric Perez said: “We are delighted to complete the acquisition of Truro City Football Club.
“As the new custodians of Cornwall’s highest-ranking football club, we are fully committed to playing our part in the exciting future of the beautiful game in the Duchy.”
The National League South side have also announced that they will return to Truro next season.
The club will begin the 2024–25 season at the Langarth Village site and will utilise temporary infrastructure whilst the new ground is built.
Perez added: “With the return to Cornwall, the club is on the threshold of a new beginning.”
“The team achieved great results on the pitch last season under the reliable leadership of our manager Paul Wotton, earning promotion back to the National League South.
“The aim is to continue the progress of the club by supporting the delivery of a facility that is worthy of the reputation of our team, our achievements and, most importantly, our ambitions.”
Truro City was owned by Kernow Sport Ltd, the owners of the Cornish Pirates.
Dicky Evans, owner of Kernow Sport Ltd, said: “I am sad to lose TCFC. It has been a pleasure to support their ambitions, see them promoted and start building their new home in Truro.”
“We are handing over a great club with a bright future and I wish it all the best with its new owners.”
Speaking about Cornish Pirates, Mr Evans said: “It is sad for the Pirates to have to give up their dream of a permanent home in Truro, but the larger reality of my deteriorating health and expiring funding means that sensible administrative decisions have had to be made to secure the future of both clubs.”
“TCFC is now in good hands and I am fully focused on passing the baton of the Pirates to new rugby owners. The Cornish Pirates will remain in Penzance, their home and heartland. We may have lost the stadium but we have gained control of our own destiny.”
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