Hughes buys Broncos

Sir Richard will maintain his links with the club

Charlton Athletic director David Hughes has announced himself as the saviour of London Broncos, after buying out Sir Richard Branson's majority stake in the club.

The Virgin Group confirmed on Friday that Hughes had successfully completed the deal and that he was now the new owner.

Branson's company will continue to sponsor the Broncos in a two-year deal worth more than £1m.

According to Hughes, that means the Broncos will remain in London and the players' contracts will not be affected.

"As a Broncos fan, I'm pleased that this deal will end the speculation about the future of the club, the playing staff and where we'll be playing," said Hughes.

We believe that it is important that rugby league has a presence within London

Sir Rodney Walker

"I'm looking forward to taking the London Broncos onwards and upwards but not up the M6. They will stay in London."

After Super League lost Paris three years ago and Gateshead last year, the status of the Broncos will come as a boost to the game.

"We are delighted to have played a small part in the process that has resulted in London Broncos remaining in operation in the nation's capital," said RFL chairman Sir Rodney Walker.

"We believe that it is important that rugby league has a presence within London and hope that the club can again start planning for the future."

London, who have appointed commercial director Nic Cartwright as acting chief executive in place of the departed Lionel Hurst, play their last match of the season at Huddersfield on Sunday.

Talks are continuing to find a new home for the Broncos who have played at Craven Cottage, Crystal Palace, Chiswick, Barnet and The Stoop since their formation in 1980.