Yorkshire Carnegie will remain in the Championship for 2019-20, the Rugby Football Union have said, provided they meet conditions after entering into a Company Voluntary Arrangement (CVA).
However, Carnegie could be handed a 28-point deduction unless all creditors agree to the CVA’s terms by 9 August.
Former Bath and Wasps player Martyn Wood was named as the Yorkshire side’s new director of rugby on Wednesday.
The financially-troubled side had their CVA approved by creditors in June.
An RFU statement added: “If the club stays up despite the points deduction, or would have been relegated anyway even without the points deduction, then there is a further deduction in the following season.
“The case remains subject to review.”