Ownership of League Two side Rushden & Diamonds has been formally transferred to the club's Supporters' Trust.
Rushden is now owned by the Supporters' Trust
The Trust has inherited a debt-free club with £20m in assets and more than 20 acres of land.
The Griggs family, former owners of the club, have agreed to fund Rushden up to £750,000 over the next two seasons.
"This is a magnanimous gesture by the Griggs family to the local community,"
said Helen Thompson, the club's new managing director.
She added: "We are so proud of this five-star palace of sport, which has no comparison outside of the Premiership in our opinion.
"And to be vested with the responsibility of sustaining this superb facility for forthcoming generations is such an honour."
Dave Suddens, former chief executive of Rushden, described the deal as groundbreaking.
"The transfer of ownership to supporters, free of debt, with commitments to further financial support is an amazing gesture of support by Max and Stephen Griggs," said Suddens.
"At a time when football is often maligned, and the intentions of those at the top of football ownership often much criticised, this deal is truly groundbreaking."