Crawley Town have announced that they will be able to start the new Conference season on Saturday.
The creditors' committee was deadlocked on a final rescue bid from the Majeed family - but the administrator has used his casting vote to vote in favour.
The Red Devils have also been allowed to sign players by the Conference.
However, their creditors have yet to fully approve the Majeeds' offer - of 50 pence in the pound - and it must now pass a vote of all creditors.
That meeting must take place within 14 days - and if it is not approved, the Sussex club still face being thrown out of the Conference, even if they have already begun the season.
Under Conference rules, any club who still have outstanding debts to football creditors - namely players and staff - are not allowed to take part.
Administrator Rob Sadler had previously set a deadline of 1200 BST on Thursday for the final offer from the Majeeds' SA Group to be accepted or rejected - having delayed winding up the club on Wednesday in order for the creditors to review that bid.
He had also set the same 1200 deadline for potential bidders to submit offers for the assets of the club, in the event that it is wound up.
Crawley are due to start the new season with a home game against Rushden & Diamonds on Saturday.
However, if they are subsequently expelled, the league is likely to continue with 23 clubs rather than 24.