Portsmouth have been given special permission by the Premier League to sell players outside of the transfer window to ease their financial crisis.
Pompey, who had nine points deducted for going into administration, can sell stars on condition they cannot play for their new club before next season.
The south-coast club have debts of about £60m and have laid off 81 staff in an attempt to cut their costs.
Pompey are bottom of the Premier League and virtually certain to be relegated.
The Premier League's decision is a turnaround after it rejected Pompey's initial plea in February.
But in a statement on Wednesday, the Premier League said it had reconsidered after a board meeting last week.
A Premier League statement read: "The Premier League board meeting that convened last week to consider the administration of Portsmouth FC dealt with a number of matters beyond just the application of the sporting sanction (deduction of nine points).
"In accordance with Premier League rules, postponement of the suspension of Portsmouth FC as a member club was conditional on a number of undertakings being given by the administrators.
"These have now been received to the satisfaction of the board and therefore it has decided to allow Portsmouth FC to make player sales under the following circumstances:
1. Players may be sold to other Premier League Clubs but may not play first team football for the new club before the end of the season.
2. Players may be sold to a Football League or foreign club, subject to Fifa's approval.
3. Portsmouth FC may enter into an agreement with another Premier League, Football League or foreign club that a player will be transferred to that other club in the summer.
Pompey, who have had four owners this season, went into administration last month after contesting a winding-up order.
That resulted in the points deduction which has left them 11 points adrift at the foot of the table.
In order to raise funds, the debt-ridden club initially appealed last month to be allowed to sell players outside the transfer window.
In line with the rest of Europe, there are two transfer windows a year in England, running from 1 January to 31 January and from 1 June to 31 August.
Portsmouth sold three players in the last window but their financial position has since worsened and they are desperate to raise extra capital by offloading more players.
http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8585099.stm
