Bolton Wanderers FC has officially met its obligations and agreed settlement arrangements with its unsecured creditors.
The club's owners, Football Ventures (Whites) Ltd, acquired the club from the Administrators two years ago.
The previous ownership had ran up a bill of around £10million in unsecured creditors.
A statement on the club website released on Friday morning stated that all of the EFL's obligations had indeed been met by the August 31 deadline.
It leaves the League One club in a far better position - with the threat of an embargo and 15-point penalty now clear.
Wanderers can now move forwards as a football club and continue to try and push back up the Football League, after promotion from League Two last season.
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On the terrific news, chairman Sharon Brittan said : “After a very challenging two years we are absolutely delighted to confirm that the Club has reached agreement with its unsecured creditors.
“This ensures that we have met our obligations, satisfied the EFL requirements and are therefore free of any embargoes and penalties.
“I would like to thank our amazing colleagues who have worked tirelessly throughout this process over the past two years and also the creditors whose patience and understanding have not only been helpful but truly appreciated.
“I’d also like to place on record our gratitude to the EFL, Jason Elliott of Cowgill’s, Paul Appleton of Begbies Traynor Group and our former COO Andrew Gartside.
“As custodians of Bolton Wanderers the future now looks extremely bright and we can now continue delivering a high performance but sustainable football club led by the Board, our Manager Ian Evatt, CEO Neil Hart and our talented and hard-working colleagues.”
