ncreased Oil Recovery Limited are to remain owners of Hartlepool United after calling off the sale of their majority stake in the League Two club.

TMH 2014 Limited appeared set to take over the club in December, but the deal has now been scrapped.

"Ken Hodcroft remains chairman and Russ Green continues as chief executive officer," a club statement said.

"The club will not be making any further comments."

Pools appointed Ronnie Moore as their new boss on the same day as the ownership transfer was announced.

At the time the sale of the controlling share and exchange of ownership was announced, any deal was described by the club as being "subject to Football League approval".

However, such ratification was never received from the League, with the situation described to BBC Tees by Hartlepool United as "ongoing" on Wednesday.

IOR Ltd took control of Pools in 1997 and have been in charge since.