Multi-millionaire Rick Penn has reportedly purchased his co-owner’s share in the Manly Sea Eagles, a move likely to have significant ramifications for the retention of key players and staff at the NRL club, including star forward Anthony Watmough.

According to reports, Penn now owns 90 per cent of the Sea Eagles, after buying out co-owners Quantum in a deal estimated at around $6 million late on Wednesday night.

Manly have been troubled by internal strife for several years now and the Penn buy-out is set to put an end to that.

Restless representative forward Watmough has been strongly linked to an exit from Brookvale, due to the continued fallout from the unpopular decision from Sea Eagles management not to offer Glenn Stewart a new contract earlier this year.

Watmough is also understood to be at loggerheads with general manager David Perry.

The 31-year-old Watmough remains under contract at Manly until the end of next year, but speculation has been fierce he could exit before the start of the 2015 NRL season, with Parramatta rumoured to be a likely new home.

But following the ownership shake-up Watmough could pledge his future to Manly, the club he has won two premierships with.

The future of Perry, who enjoyed strong support within the Quantum faction, is now under a cloud.

Brett Stewart and Steve Matai were two other star players linked to a move out of Brookvale, said to be due to dissatisfaction with management.

That could all change now too.

An official announcement from Manly on the ownership change is expected later on Thursday.