FORMER Wrexham chairman Mark Guterman was this week warned off trying to regain control of the League Two club from his erstwhile business partner Alex Hamilton.
Mr Guterman's role in obtaining the Racecourse's freehold for the benefit of the Cheshire property developer was roundly criticised by a High Court judge last week.
But he is understood to be leading one of three bids to buy the club and take it out of administration.
Last Thursday Mr Justice Norris ruled the land transaction invalid and ordered the freehold of the stadium, previously subject to a 125-year lease, should revert to Wrexham's ownership.
David Acland, the administrator currently running the business, told supporters any Guterman bid is unlikely to be successful because of the debts run up by Wrexham during his spell in charge.
The club owes around £1.4m to major creditors the Inland Revenue and Customs & Excise.
Mr Acland said: "Any ex-directors looking at buying the club will be frowned upon by the Inland Revenue, which believes they should take some responsibility for incurring the debts in the first place."
As administrator Mr Acland is bound to secure the best possible deal for creditors.
He was speaking at a well-attended Wrexham Supporters Trust meeting.
The group has given its backing to a buy-out bid fronted by local businessmen Neville Dickens and Geoff Moss.
He added: "The fans can make a difference depending on who they get behind.
"From the trust's point of view you need to come out in numbers for the next home game and an attendance of 5,000-plus will encourage any prospective buyers.
"It may also influence the creditors as to who they want to go with."
The administrator admitted majority shareholder Mr Hamilton could yet hold up the buy-out process.
But he said efforts would be made to persuade him a consensual sale was his best option.
Mr Hamilton has until November 3 to decide whether to seek leave to appeal against the High Court judgement. As well as owning 77% of the club's shares, he is the third biggest creditor.
The developer is owed around £840,000, although the administrators are seeking the full costs of their successful court action which, if approved, will be set against that sum.
"We have a cunning plan," said Mr Acland. "What we are still hoping for is that all the parties sit round the table and do the best deal available.
"But there is a possibility that we could agree a deal with the major creditors and Mr Hamilton could still say 'no'.
"There was a deal to be done in February and there was a deal to be done in July and the Football League won't allow the club to be in administration for more than two seasons so we have to get things wrapped up by the end of May next year."
Mr Acland confirmed he was in close contact with the Football League. He said the organisation would have an input before any sale was agreed ensuring security of tenure for the club at the Racecourse for at least 10 years and applying its "fit and proper persons" test of incoming directors.
The administrator pointed out Wrexham winning the LDV Vans Trophy last season kept the club in business during the summer.
He claimed the business was now operating on a break-even basis and was better off than it had ever been. "It previously had a 125-year lease on the Racecourse but the move Hamilton made to buy the freehold has enhanced the value of what we've got here. So it's more important than ever we get the right people to buy the club.
"Attendances of 4,000 give us a break-even situation but the club is operating with a low-cost, small squad of players.
"The more cash that can be generated in terms of people coming through the turnstiles will provide the finance to bring in more players.
"There would be nothing better in terms of encouraging would-be purchasers than to see a substantially full stadium on Saturday," he added..