Partners Declan Hogg, Dean McCracken and Graeme Cannon have jointly purchased the Stags Head in Drumlanrig Square.
They plan to run it as a collective with each partner taking time out of their busy working schedules to do shifts behind the bar.
The Stags Head name is being retained but one of the pub’s central attractions will be sport, with three television screens showing football, rugby, racing and more offbeat fare.
Declan, 25, said: “It’s back to a good old bar. We’re keeping the name and with a bit of paint work we’ll make it a bit fresher. Dean is quite heavily involved in the rugby in Hawick so we’re hoping to get some of the rugby lot in there after the matches.
"I’m also involved with the football in Hawick so we’ll look to get the football lads there after games on Saturday and we’ll also be looking at sponsoring some local clubs in the near future.
"Dean came to me and said ‘do you want to buy a pub?’ and that was about it. We saw it as a more of an opportunity to build it up again.
"We’re looking for a bit of a buzz again at that side of the square because I think Jock Reids has been taken over as well.
"As soon as we are allowed to open, hopefully in May, we will be ready. We have the full Sky package so every bit of football will be on, every bit of racing.
"If someone comes through the door and wants the racing or even baseball they will have it – we want to cater for everyone.”