Smith says he has already been talking to perspective new signings

Wrexham faced expulsion from the league after breaking the 18-month deadline for teams in administration.

But the Football League granted an extension after backing a rescue plan by a consortium hoping to buy the club.

"It's excellent news. We get little bits each day and every day things look better and better for us," said Smith.

"I couldn't see them [the Football League] saying no because all the work has been done, but we are past the deadline date, which was 3 June.

"This is a special dispensation we are getting and it won't happen with all the clubs who are in administration.

We're about a month later than I would have liked, but we've got to live with that Wrexham manager Denis Smith

"But because we agreed a deal with the creditors before 3 June, I think the league are quite happy to go along with it."

The Football League's board decision to accept the rescue plan still needs to be approved by all the League clubs.

And Wrexham's creditors have until 27 June to object to the deal they backed last week to accept about 28p in every pound they are owed.

But Smith said: "I can't see anybody doing that because everybody voted in favour.

"But legally they have 28 days which would take us to the end of the month.

"Once we've got past that, then the new company will be in place and we can start pushing ahead.