League Two side Northampton Town have confirmed that the application for administration has been officially withdrawn.
Northampton Borough Council said that the Cobblers owed more than £10m, but an agreement has been reached this week, allowing the council to withdraw their application.
New Cobblers chairman Kelvin Thomas told the club website: "We are delighted to finally resolve these matters with the withdrawal of the application.
"This is another major milestone that we have been able to resolve and we are pleased that we have been able to live up to our obligations and complete the various items that were asked of us.
"There has been a real buzz around the club in the last few weeks which is very exciting. On the field we have secured some great results, while off the field we are making excellent progress."
Northampton have won four league games in a row and six of the last seven to sit level on points with Oxford United and Plymouth Argyle at the top of League Two.
Pascal Lemesre
