INSOLVENCY expert Philip Long said yesterday administrators would be expected to draw up a rescue package for Wrexham FC.
The club's debts and claims from creditors would now be frozen, he said. "The company has to be either insolvent or likely to become insolvent to enter administration, which is a procedure under the 1986 Insolvency Act," said Mr Long, head of corporate recovery for accountants and business advisers PKF, which acted in the administration of Oldham Athletic.
"An administrator is appointed to try to come up with a rescue plan over how to save the company.
"It's a very useful process when wanting to freeze creditors' claims.."
He said player's wages still needed to be paid.
"If you can't pay a player's wages, he can quite justifiably say 'you have broken my contract' and become a free agent," Mr Long said..
"These lads are going to want certainty, they have mortgages to pay, it's not as if they are like the superstars.
"They might rather move to a stable club than hang around with promises of wages being paid sometime.
"In this sort of situation, there is every danger of meltdown. But it is the best option in terms of trying to save the business.
"We did Oldham Athletic as administrators and managed to find buyers from the United States."
He said they would be trying to find a buyer for the club, but it was less attractive because the ground could not be included in the deal.