The Scottish Professional Football League was formed last week after an epic 16-hour meeting of club representatives.
After some wrangling the deal was finally clinched just before 11 p.m. on Wednesday, June 26, after which the six club representatives for the nine-person SPFL board was elected.
Top-flight members of the board are Celtic director, Eric Riley; Dundee United chairman, Stephen Thompson and Aberdeen managing director Duncan Fraser.
The first division have Hamilton Accies chairman Les Gray and Alloa chairman Mike Mulraney as their two representatives. Meanwhile, the remaining 20 clubs from the second and third divisions have just the one representative, Bill Darroch of Stenhousemuir.
The representatives will be joined by a yet-to-be-appointed chairman, chief executive and one independent non-executive director.
It is anticipated that four divisions in the SPFL are likely to be rebranded as the Premiership, Championship, League One and League Two and a title sponsor will also be sought.
Speaking after the meeting, Alastair Donald, Forfar Athletic chairman, said: “After a marathon day at Hampden the SFL was officially wound up and the new SPFL was formed, the legalities will take a few more days but for all intents and purposes the deal is done.
“The long day was caused by last minute hitches on the legal documents and as with many deals of this type there was always going to be drama.
“Having arrived at Hampden at 10 a.m. on Thursday morning and eventually returning to Forfar at 1.30 a.m. the following day I can assure you I was pretty exhausted by the time I got home.
“I have to say it was a fascinating day and a privilege to be at the end of the SFL and the birth of the SPFL.
“I can only hope we get some peace and quiet now to focus on the season ahead.”
He continued: “Once again, I feel as club we have handled this situation well and during the numerous trips to Hampden over the last few weeks we have played our part and actively participated in the discussions.
“It is important to recognise the contribution the board and administration of the SFL have made during this process and I have conveyed my thanks and appreciation to them on behalf of our club.
“I would also like thank our own board for the full support they have given me during this testing time.”