Chelsea's transfer ban has been lifted by the Court of Arbitration for Sport.
The current Premier League leaders have been cleared of any wrongdoing regarding the transfer of Gael Kakuta from Lens and have had all sanctions lifted.
Chairman Bruce Buck told the club's official website: "We are pleased to have come to an amicable resolution of the matter and that it has been ratified by CAS and recognised by FIFA.
"It was always our intention to work together with Lens to reach this end, and both clubs have strengthened their relationship as a result of resolving this case to everyone's satisfaction.
"In an act of good faith and with a view to the possibility of future collaboration with Lens, and without recognising any liability, Chelsea has agreed to pay compensation costs for the training given to the player while at Lens, as mandated by FIFA in its original ruling."
Chief executive Ron Gourlay added: "Naturally, we are pleased Chelsea has been cleared of any wrongdoing and that the matter is now closed."