A new company, headed by former chief executive Julian Rhodes, will take control of affairs and run the business.
With the Bantams no longer in the hands of administrators, manager Colin Todd can strengthen his squad.
And he has wasted no time working on that front after signing Owen Morrison from Stockport County.
The winger joined City on Friday and made his debut as a second half substitute during the 1-1 draw against Walsall at Valley Parade.
During the financial crisis that almost forced the club to close, Todd could only work with 18 first team professionals and secure short term loan deals.