A consortium of investors led by Gibraltar-registered property company Mancarr Investments Limited have taken charge of the Cumbrians with immediate effect.

The consortium includes Stephen Brown, a 47-year-old Scottish businessman, whose family recently sold a hotel in mainland Spain for �6.3m.

Carlisle boss Ian Atkins has been given the go ahead to bring in new players in a bid to avert the threat of Conference football next season.

Business plan

After paying off the outgoing directors at a cost of almost �300,000, the consortium immediately implemented a five-year business plan designed to enhance the club's status on and off the field.

Atkins has been given permission to sign Lee Madison and Michael Galloway on long-term contracts and the consortium wants him to recruit other new players as soon as possible in an effort to lift the club off the foot of the Third Division table.

Apart from attempts to improve the club's league position, the consortium plan to develop its property interests.

Brown has business interests based off-shore but will devote the next two months to overseeing the initial stages of the new owners' revival plan at Brunton Park.

At a Brunton Park press conference today, Brown said: "We need everyone's support.

"It is an enormous task to rehabilitate the club in the current position.

"We can only give this situation our best shot if everyone in the community pulls together."