Tranmere Rovers owners Mark and Nicola Palios have agreed to sell a minority stake to an Indonesian-based investment group as they set their sights on aspiring for "a sustainable life in the Championship."

Santini Group is owned by brothers Wandi, Lukito and Paulus Wanandi and the deal will see Lukito take a seat on the board of the League One club.

Tranmere have enjoyed back-to-back promotions in the past two seasons from the National League and League Two.

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The deal has been made possible after the Palios agreed to issue new shares.

In a statement last night Mr Palios said: "At the time of taking over the reins at Tranmere we had the objective to stabilise the club financially and to build businesses which would ensure it would thrive into the future without having to rely on football fortune or the generosity of a benefactor.

"But we always acknowledged that once the ship was steadied, we would look to bring in some additional investment.

"This is particularly important if the club is to aspire to a sustainable life in the Championship.

"We are delighted that we have now been able to secure an investor who will help with that transition."

The chairman said that in seeking investment it was critical to find a partner "who understood the ethos of Tranmere" and would want to ensure the community work, fan engagement and development of businesses to underpin the club financially, continued.

He added: "We were not looking for a partner who would simply inject large sums of money into the club’s playing budget, and put the club at risk of disaster if they chose to walk away.

"This year, more than ever, the dangers of such as approach have become very apparent elsewhere.

"Instead, we were looking for a partner who could help us invest in income producing assets to sustain the club for the long-term, and that is what we believe we have now found.

"The group is run by three brothers, Wandi, Lukito and Paulus Wanandi.

"Nicola and I have spent time with them both in Wirral and in Indonesia to understand each other, but most importantly, to ensure that the investors gained an understanding of the club.

"Santini Group will also help the club in developing the international market, including Asia, to give an extra added value which coincides with the club’s positioning as 'more than just a football club”.

"Lukito Wanandi will take a seat on the board of the company but Nicola and I will continue with the day-to-day club operation, alongside Dawn (managing director Dawn Tolcher) and the senior management team."