Weymouth chairman Martyn Harrison has today announced that the squad is no longer on the transfer list and the club is no longer in danger.
A lengthy statement on the Weymouth website places players Jason Tindall and Roy O'Brien in charge until the end of the season after the club reduced costs and Harrison agreed to cover additional losses until the end of the season.
Weymouth have released manager Garry Hill and assistant Kevin Hales, who both had contracts until 2010, and five players have moved on to new clubs in the last ten days with Grays announcing the signings of Abdul El Kholti and Simon Downer this afternoon.
The 'change of mind' will leave the future of Ben Smith up in the air after already having offers from several clubs, and further news is expected later.