League One Portsmouth will not go into liquidation on Friday after Liam Lawrence, the last remaining senior player at Fratton Park, agreed to leave the club.
This paves the way for former owner Balram Chainrai's company Portpin to buy back the stricken south-coast club.
"We have negotiated a compromise agreement with Liam Lawrence, who will leave the club when the paperwork is finalised later today," read a statement on the club’s official website.
"I'd like to thank Liam for his support and all of the other players for putting the club's interest ahead of their own.
"They have all had to make very difficult decisions and been placed in an impossible position which wasn't of their making."
Administrator Trevor Birch added: "This means that we have now successfully completed agreements with all of the first-team squad and met the major condition of the offer from Portpin, which formed the basis for the CVA proposal."
Portsmouth will now be able to start their season next weekend, albeit with another 10-point deduction following their latest spell in administration.