However, the misconduct charge against the club remains and will proceed to a hearing.
It centres on the circumstances surrounding the sale of Hillsborough to a separate company owned by Chansiri and presented in the accounts for the 2017/18 season.
Here’s how Wednesday fans on Twitter have reacted to the news.
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@midnitefrankie The case is not over yet. Let’s reserve judgement until it’s all finished.
@ewanarm Need to calm down, still charges against the club so still possible points deduction #swfc
@stejroberts Everyone’s reading this and thinking it’s over
@AlbertRamsbott1 The EFL will not be made look foolish twice, they're after us
@9Cigs87 This means nothing to anyone apart from the three people mentioned in the statement.
@mattwilli86 Thanks Jeff. Unbelievable scenes at Half time here at Hillsborough, the underdogs have a surprising lead! A great finish by Chansiri and his team. Out of nowhere it’s #swfc 1, #efl 0.
@TheDazzler43 @EFL drops the charges against DC, KM & JR, but the actuality for the fans, players and club as a footballing entity has not changed. #swfc still facing financial penalty, points deduction and immediate future of uncertainty. Hope he defends the club as vigorously as he has himself.
@CraigGamb One thing you can’t fault Chansiri on, and that he doesn’t hold back on anything and will take anyone all the way. Fair play #swfc
@SteelOwl I don't get the latest statement. If the EFL have dropped the charges against Chansiri, and Chansiri is the chairman and makes all the final club decisions, then how is the club still being charged??? #SWFC
@ChrisBramms If we do get away with a points deduction, we can count ourselves extremely lucky and need to take a long look at our strategy going forward. Something has got to change. We wont get away with it twice. #SWFC
@nicburke34 Only half time but a massive boost #swfc
@ConnorTSWFC Calm down the club could still get found guilty, we’ve not won yet #swfc
@ScottPearson10 At last good news #swfc