Durham have had a financial rescue package “unanimously agreed” by Durham County Council.
The North East club’s loans of £3.74m have been converted into shares, with repayment of the debt put on hold.
Durham were relegated from Division One of the County Championship over their financial issues on 3 October.
The county, who accepted a financial aid package approved by the England and Wales Cricket board, will start next season with a 48-point deduction.
More to follow.