Portsmouth have moved out of administration following the Pompey Supporters' Trust's purchase of the League One club.
The financially-stricken outfit went into administration in February 2012, but a settlement between the former owners and administrators allowed a takeover by fans.
Nearly £3m has been raised by the Trust in order to save the club from liquidation.
The Football League will now decide when to deduct Portsmouth 10 points for officially exiting administration.
The team's relegation from League One was confirmed on Tuesday night with Oldham Athletic's 1-0 win over Yeovil Town.