The deal was unveiled today by administrators Begbies Traynor, and makes sure that the Imps can compete in the league for the next few years.
The plan was put together to combat potentially crippling debts, and sees major creditors take a percentage of moneis owed while smaller unsecured creditors get shares in the club in lieu of their debt.
"It gives me immense pleasure to return your club to you especially without ever having to play a match," said administrator Mike Ellingworth.