“This is the club I have supported for most of my life. My children and my grandchildren do so too. I stood on the terraces and have watched the high moments as well as the difficult years.”
Craig, who oversaw last season’s historic treble which included a first league title in 29 years, believes Dyson’s investment will strengthen Bath further.
He added: “James understands Bath Rugby first and foremost as a supporter and a friend. His family has stood behind the club for decades and it always felt inevitable that our paths would align in this way.
“I will continue to run Bath Rugby and together we will strengthen its foundations, realise the new stadium and build the club for generations to come.”
The move was welcomed by Prem Rugby bosses.
“This is great news for Bath Rugby and their loyal and dedicated fans,” said chief executive Simon Massie-Taylor.
“This announcement is testament to the stewardship of Bruce Craig and his leadership team at the club and confirms just how attractive Prem Rugby now is to investors.”