Plymouth Argyle have confirmed their transfer embargo has been lifted by the Football League.
The embargo was placed on the Devon club late last year over unspecified unpaid debts.
But Plymouth have now revealed that they are again free to sign players after settling their debts.
A club statement said: "Plymouth Argyle have today (Thursday) received confirmation from the Football League that transfer embargo previously imposed on the club has been lifted."
Meanwhile, Plymouth's Icelandic central defender Kari Arnason has signed a two-year contract extension with the Championship club.
The new deal means Iceland international Arnason, 27, will stay at Home Park until summer 2012 and comes as as a reward for Arnason's outstanding form for the Greens since initially penning a one-year deal in July.
Delighted Argyle head coach Paul Mariner said: "I'm extremely pleased. Kari has been an integral part of what we are doing.
"There are a lot of upsides to Kari. He can't wait to work, he's very attentive, he wants to get better and he's a great bloke.
"It's a good day for the club to get him signed up."