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Wrexham apply for administration
Wrexham Football Club are expecting to be in a CVA situation within days. This move should forestall closure of the club.
If administration goes ahead, Wrexham would become the first club under new Football League rules to face the 10-point penalty - and as the table stands it would leave them second bottom of League One.
The rule was brought in as a deterrent following a succession of clubs calling in administrators, and in effect "starting again."
The club statement said: "If an administration order is made by the court, then there are adverse consequences, the most obvious of which being the deduction of 10 points.
"However, faced with the alternative of the club ceasing to exist, the directors believe that their decision is in the best interests of the club and the continuation of league football in Wrexham."
Administration would give the club more breathing space to find a rescue package.
Meanwhile former Wrexham and Hereford United player Dixie McNeil is a member of a consortium involving two former Wrexham FC chairmen waiting to hear whether their offer for the club has been accepted.