Steve Bowller, the man behind the bid to save Cambridge RUFC, has been elected the club's chairman.
Bowller headed up a group called the 1923 Club which successfully raised the £225,000 required to fend off a winding-up order issued in September.
The money was owed to HM Revenue and Customs for unpaid tax and national insurance bills.
The position of chairman had been vacant since Ian Wilson resigned from the post after the debt came to light.
On the pitch, Cambridge continue to go from strength to strength.
Saturday's 66-29 win over Otley, which included three tries in the opening six minutes, keeps them second in National One, five points adrift of leaders Barking.
Bob Crooks' side have now scored 75 points more than anyone else in the division.
But they have the top eight's worst defensive record, conceding four tries again on Saturday, something which the Cambridge director of rugby is keen address.
"I was happy with our first-half attack," Crooks told BBC Radio Cambridgeshire. "But I was seriously unhappy with the defence again.
"We made a point before the game that our defence have got to start raising their standards to somewhere close to our attack.
"We have got to be mentally tougher in defence. It's too easy to get round us."
Cambridge head to eighth-placed Tynedale this weekend, looking to build on a run that has seen them lose just once in their last 10 outings.
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