WREXHAM FC is set for administration as owner Alex Hamilton declares he wants to sell the ground and sack the directors.
Yesterday the club petitioned the High Court to go into voluntary administration, but it will take two weeks for the request to be approved.
Directors and fans are still praying for a "white knight" buyer to come forward and save the club which owes the taxman nearly £900,000.
The legal move avoids an Inland Revenue High Court battle today, with a windingup order potentially sending Wrexham FC into liquidation.
In a bizarre twist Mr Hamilton announced he now wants to sack the directors, re-appoint himself chairman and work with administrators to sell the ground.
Although offers have been put to Mr Hamilton, he claims none is realistic.
If Wrexham goes into administration the directors will have to step down and could be the first league club to be docked 10 points.
The directors are arguing there are extraordinary circumstances and Wrexham should be spared the punishment.
In a statement they said: "Faced with the alternative of the club ceasing to exist the directors believe their decision is in the best interests of the club and the continuation of league football in Wrexham.
"This is not a solution to the club's problems and is only a mechanism through which a solution can be sought.
"There is considerable hard work ahead and the directors are totally committed to continue their efforts if the club does enter administration."
Mr Hamilton, who owns a 78% majority stake in the Dragons and owns the Race-course freehold, confirmed he wanted an extraordinary general meeting to sack the directors and reappoint himself as chairman.
"I would like to sell the Racecourse to the council if they can make a serious bid but, in the absence of that, I have got to get the best return I can from invoking the notice served on Wrexham to quit the ground in July," he said..
Mr Hamilton said he wanted to build on the Racecourse.
He said: "The forthcoming EGM will see me back as a director and the present directors will then be watching the game from the stands as fans."
Lyndsey Jones of Wrexham Supporters Trust said: "What we are talking about here is the greed of one man being more than important than the way of life and culture of thousands of others. When the administrators come in we hope there will be a thorough investigation into several of the transactions that have gone on."