Bolton Wanderers' survival has been secured after Football Ventures (Whites) Limited completed its protracted takeover of the club.
Administrators had warned that the club could be placed into liquidation on Wednesday without a finalised takeover.
It looked to have collapsed on Monday, leading to bleak warnings about the future of the 145-year-old club.
"I'm delighted we've finally reached a satisfactory conclusion with the sale," said joint administrator Paul Appleton.
"I have every sympathy for the staff, players and fans who have been forced to stand by while their club was taken to the brink. I am delighted their loyalty, dedication and patience have finally been rewarded."