Wakefield Trinity Wildcats have come out of administration after businessman Andrew Glover completed his takeover.
A new company formed by Glover - called Spirit of 1873 Ltd - bought the club for a nominal fee from administrators O'Hara and Company.
A two-man board, comprising Glover and chief executive James Elston, will run the club alongside new general manager Davide Longo.
John Kear will stay on at Belle Vue as head coach.
The club applied to go into administration at the beginning of February to avoid a winding-up petition brought by HM Revenue & Customs over an unpaid tax bill thought to be in excess of £300,000.
"It's been a tough few weeks but we've got there," said Glover, whose rescue deal was accepted after fellow Yorkshire businessman Steve Parkin decided not to proceed with his bid.
"The security of the club is now solid and everyone can concentrate on doing their job."
Administrator Peter O'Hara had revealed prior to the deal being completed that around 30 of the club's administrative staff had been made redundant.
The deal will secure the Wildcats' long-term future and give this club a fresh start
But Glover confirmed that all but "five or six" members had been taken back on.
"It's a brand new company but there are elements of the old debt that I feel that I want to honour," he said.
"Officially yesterday all the non-playing staff were made redundant but a very large percentage have been re-employed."
The Rugby Football League's board of directors will meet on Friday to decide on the points penalty to be imposed as a result of the club going into administration.
Glover's takeover was initially agreed last week but was subject to the RFL's final written confirmation that he had passed a fit and proper person test.
A club statement at the time said: "The deal will secure the Wildcats' long-term future and give this club a fresh start.
"At the core of our plans is securing the financial stability which will allow us to support the team on the field and give our loyal fans the experience and success they deserve."
The terms of the agreement will see the Wildcats playing at their long-time Belle Vue home for the 2011 season.
Speaking prior to his takeover, Glover confirmed that the Spirit of 1873 would go ahead with the club's bid to gain planning permission for a new 12,000-seat stadium at Newmarket.