Cambridge United's exit from administration was confirmed this morning by Ian Carr of Grant Thornton.
Legal steps at the Courts in London were completed late yesterday afternoon but could not be confirmed earlier due to the bomb alerts affecting the capital.
Finance Director Nick Pomery was delighted at the news: "This is the final step in what has been a difficult and, at times tortuous process. Now we can start the club again with a clean slate.
"We are not under any illusions as to how hard the rebuilding process will be - we still need to develop a balanced budget and find ways to increase the amount of money available to Rob (Newman) for the first team squad - but the first step has been taken on the road to recovery.
"The directors will be pushing on with planning for the future of the club at our Board meeting on Monday."
Financially the club is almost ready for the new season, but Pomery asked for one more helping hand from fans.
"We need a final fund-raising effort to make the club fully secure for this season and the easiest way to do this would be to get a decent crowd at the match at the Abbey Stadium against Northampton Town on 30th July.
"So please, if you can, come along to the match to enjoy what should be a good football test for the U's against our local rivals, and at the same time finish the job of getting our finances in order for the new season."
Fans' elected director Brian Attmore, who has taken over responsibility for community and marketing at the club, was equally pleased. "This is fantastic news! The last few months have been a nightmare for everyone at the club and all of our fans.
"Now we have a chance to start moving in the right direction, rebuilding the spirit in and around the club, working with the supporters and returning the club to its roots in the Sixties and Seventies when the fans getting stuck in to help the club made a massive contribution to our rise up the leagues."
Attmore said the club was planning a few events over the next few weeks to celebrate its survival. "We have one or two ideas we are working on and we will be publicising them shortly."
Northampton Town visit the Abbey Stadium on Saturday 30th July for a 3pm kick-off, and all proceeds are going to bolster United's fund-raising efforts for the new season. Entry is pay on the day and admission prices are £10 for adults and £3 for concessions to sit and £8 for adults, £2 for concessions to stand.
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