“This proposal is the best possible outcome for creditors, the club and the fans,” joint administrator Scott Kippax from Begbies Traynor said.

“We are delighted to have reached the point of a conditional sale agreement, which would see all tax debts and trade creditors settled in full in a relatively short period of time.

“It is good news for the long-term future of the club and we are pleased to be able to present such a favourable proposal to creditors.”

The club has yet to release its retained list or decide who will manage the club next season.

Aaron Downes had been in interim charge after Gary Johnson left in February following news of Osborne stopping financial support.

“We are delighted to have provided a positive outcome for all creditors and provided a future for our beloved football club,” Westcott said in a statement.

“There is much work to be done in the coming days and weeks, and we will issue a series of updates to supporters next week on the preparations and plans for the forthcoming season.”