Accrington Stanley bosses insist the club is in a far healthier financial state than last year, despite unveiling £1 million-plus debts.
The Reds finally lodged 2008/9 accounts with Companies House last week, lifting a transfer embargo ahead of the new season which kicks off tomorrow.
They owed creditors £1.08 million in May 2009, after racking up £300,000 annual losses.
The accounts were delayed by a struggle to establish debts owed to former chairman Eric Whalley.
With this seemingly resolved, it enables the club’s protracted takeover by Dave O’Neill to be officially completed.
Chief executive Rob Heys expects the 2009/10 accounts to paint a rosier picture, when they are registered in a couple of months’ time.
He said: "Some of the debt will be written off and some is donations to be revised.
"It certainly won’t be any higher than £1 million.
"We are hoping to restore a bit of credibility with the supporters and Companies House."
Stanley were minutes from going out of business last year before Ilyas Khan paid off an outstanding £300,000 tax bill to the taxman.
Heys said: "Ilyas still has to make his decision on what we do with that debt on the balance sheet, but we know he has the best interests of the club at heart.
"There’s no interest on it and nobody is pushing for payment.
"We would like to apologise to supporters for the uncertainties caused by the delay in resolving the situation. It’s important to make the point that going forward we will break even this season."
Reds fans spokesman Jason Graham was delighted supporters could finally concentrate on football matters at last after such an uncertain pre-season"
He said: "There’s been so much rubbish going on behind the scenes that it’s good to get it out of the way. The size of the debts is not really a surprise in this day and age because it costs such a lot to run a football club."