THE deal to sell Wrexham FC to Surrey businessman Andy Smith could be completed within days.
Creditors were given an update of the cash-strapped club's situation yesterday.
Joint administrator David Acland said after the creditors' meeting he understood current owner Alex Hamilton was in talks to sell his 78% stake in the Dragons to Mr Smith by next Friday.
Creditors gave their backing to the administrators to continue negotiations over the club's sale.
Mr Hamilton said he had given Mr Smith's City of London-backed consortium a 10-day deadline.
The Cheshire-based property developer added: "Mr Smith is making all the right noises and going through the necessary legal motions but contracts must be exchanged by February 22 or 23 or else his bid will fail.
"If that were to happen there are one or two other interested parties in the wings, but at the moment I am waiting for Mr Smith."
He added the only alternative was liquidation.
Wrexham creditor Harold Hughes of Grays Electrics said he was cautiously optimistic the deal would go through.
"The meeting was just a formal report on what we have already received," said Mr Hughes..
"We understand the deal may be signed and sealed within the next few days. I can see some light at the end of the tunnel."
Mr Hamilton has given the club notice to quit the stadium with effect from July 21.
He added: "I have some idea of the plans Mr Smith has for a redevelopment that will keep the club at the Racecourse and I hope he has the opportunity to carry them out.
"But if I'm not out of the picture by then the demolition of the Racecourse will commence in late summer.
"I'm determined to build a new stadium elsewhere and I have now identified a site.
"One way or another I am determined to get some sort of development at the Racecourse and my plan involves the town benefiting from a brand new stadium."
Mr Smith wants to build an hotel, shops and several hundred apartments next to the ground.
