Hearn wins vote to take control

The veteran promoter will, through his Matchroom Sport business, take a 51 per cent controlling stake in the commercial business, which will be separated from the regulatory body – the World Professional Billiards and Snooker Association.

Hearn has pledged that prize money will rise from 3.5m in 2009-10 to 4.5m in 2010-11, and has also promised to return control to the WPBSA if he fails with his venture.

Until the former Olympic shooter and businessman John Davison came forward with a rival bid last week, Hearn looked certain to get the go-ahead.

However, Davison's proposal meant the final vote was tight, with Hearn prevailing by 35 to 29 at a WPBSA extraordinary general meeting in Sheffield yesterday.

Hearn said: "I'm delighted by the outcome. I do not underestimate the challenges that lie ahead, but for the moment snooker is united and the future looks rosy."

Davison, who competed in clay pigeon shooting at the 2000 Olympics in Sydney and has had a successful career in private equity, turned down an invitation to attend the EGM after claiming his bid was not being afforded the same platform as the proposal from Hearn.

Leyton Orient FC chairman Hearn, who has had business success in various sports, including darts, boxing and golf, had a high profile in snooker's hey-day during the 1980s and he returned to the front line in December when he was elected as chairman of the WPBSA.

Davison had support from several notable figures, including Lee Doyle, the head of management company 110Sport, plus players including Stephen Hendry, Ding Junhui and Peter Ebdon but his run came too late.