Ground moves back to 40/40/20 model with Kirklees Council and Huddersfield Giants.
Huddersfield Town have confirmed an agreement that sees a return of a 40% stake in the John Smith's Stadium, for just £1.
It means they are partners in Kirklees Stadium Development Limited (KSDL) with Huddersfield Giants and Kirklees Council.
The new deal comes almost 10 years since the Club saw its shares transferred away after it fell into Administration, following the failure of ITV Digital.
Town Chairman Dean Hoyle commented: "This is a great day for the Club, its supporters and me. I'm sure there will be many very happy fans at this news.
"The leader of Kirklees Council accepted that Huddersfield Town needed to return to the heart of the stadium ownership in order for it to flourish and that this would only come with a return to the original ownership model of 40/40/20, which served the parties so well up to 2004.
"I would like to thank the Council for its support- in particular Leader Mehboob Khan and CEO Adrian Lythgo, who worked very hard to make this happen.
"The £1 share buyback finally reverses the £2 sale from 2003 but has also been accompanied by the cash repayment of £2 million of old loans to Ken Davy.
"This is funded by me and now means Ken will have been repaid all the cash he ever put into the Club except for £487,000 which is still to be settled in future.
"The original vision for the Stadium as a jointly owned and managed asset with strong community focus was totally compromised. The stadium needs the backing of the football club, our fans and partners so it can prosper.”