Avtar Sandhu is handing over the reigns after nine years with the Bees
Coventry Bees' outgoing owner Avtar Sandhu is calling on the club's supporters to back his prospective replacement Mick Horton.
Horton will lease the club for a year with an option to buy outright at the end of it.
The deal has been completed subject to ratification by the sport's governing body, the British Speedway Promoters' Association.
Horton has started building the team for 2012 recruiting former captains Chris Harris and Scott Nicholls.
But he has lost the services of joint manager Alun Rossiter, who has returned to his previous club Swindon after two years at Brandon.
Sandhu, who saw the team win several trophies including three Elite League titles during his ownership, has called on Bees fans to get behind Horton.
In a club statement he said: "(Horton) needs and deserves everybody's unreserved support to keep the Bees at the top of speedway and to bring back the silverware we missed out on last season.
"He has made a great start by the signings he has already made and having heard some of the names in the frame for the remaining places I am confident he is going in the right direction.
"Under the deal he has twelve months to secure the purchase of the team whilst at the same time gaining the fans' support and trust by his actions rather than promises."