Joint administrator Mark Fry's deadline for the sale of the football club had passed on Friday without him carrying out a threat to wind up the club.
"The sale of the Saints to Markus Liebherr is a fantastic opportunity to rebuild the club," said Fry.
"He was attracted to Southampton by a number of qualities which include the club's rich sporting heritage, loyal fan-base, first-class stadium and training facilities and the potential for the Saints to regain their rightful place at the higher echelons of English football.
"I would also like to take this opportunity to thank all Saints fans for their support and patience in what have been uncertain times for the club. I would also like to wish both Markus and the club well for future success."
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