Portsmouth manager Andy Awford says the club are now on a "level-playing field" with other teams in League Two after becoming debt free.
The club announced on Monday they had paid off their legacy debts from administration, meaning the Football League lifted their transfer sanctions.
As a result Pompey can now pay transfer fees for players without approval.
"I'm absolutely delighted, fair play to everybody involved," Awford told BBC Radio Solent.
"It's been a long haul, we've eventually got there and it's nice to be on a level-playing field with everybody else."
The Pompey Supporters' Trust has been in charge at Fratton Park since striking a deal with former owner Balram Chainrai in April 2013.
Portsmouth have been in administration twice in the past five years and the club came close to liquidation in 2013 before the Trust came together to take over.
"Let's never go back," warned Awford.
Explaining how their debt-free status would affect him, he added: "We had dispensation off the Football League in the summer (to sign Nigel Atangana and James Dunne) but now we don't need to ask.
"If there is a fee and it's within budget we are in the same market as everybody else. We don't need to go cap in hand to the Football League."