League One promotion-chasers Swindon are reported to be considering administration.
If the Robins - who have debts of £13 million - do make the move, it would be the third time they have entered administration and would lead to a ten-point penalty.
Paolo Di Canio's team are currently fifth in the table after having won promotion from League Two last season.
Reports of possible administration came after Andrew Black, the Swindon owner, was revealed to be unwilling to put further funds into the club and was instead seeking new investors.
On Swindon's official website, club chairman Sir William Patey said: "Andrew Black has made it clear that he is looking for someone to acquire his majority shareholding.
"As a consequence, the board has been engaged in detailed discussions with interested parties these past few weeks. The club is also taking professional advice as to how best facilitate an early sale.
"The aim is to attract new owners as Swindon Town is a club with real potential and with a huge opportunity."
A move into administration would be likely to clear around £9 million from Swindon's debt - but it could be avoided if new backers can be found.
