Crawley Town have confirmed they are going into administration to sort out the club's financial mess.
The Majeed brothers will hand the running of the Nationwide Conference club to Begbies Traynor insolvency firm.
It would mean an automatic ten-point deduction next season under FA rules, providing the club survives.
It is thought unnamed investors are prepared to make an offer to buy the club but fans fear the unpopular Majeeds could be unwilling to sell.
Crawley Town was widely rumoured to be formally entering into administration at Leeds County Court yesterday but the court had received no documents from the club or Begbies Traynor by the end of the day.
Gil Roberts, a spokewoman for the Majeeds, announced administration was imminent last night.
She said: "It will be in the next few days and it will be in Leeds. We are awaiting approval from the football authorities and the wheels to turn but it's an inevitability."
The Football Association and the Football Conference both denied having any contact with the club to discuss going into administration.
The Majeeds still owe a large sum of the £600,000 deal which saw them take over the club from John Duly last summer.
They have also been ordered to pay about £60,000 to former staff by employment tribunals and a £3,000 fine to the Football Conference for exceeding the playing budget.
Azwar Majeed, who owns a string of bars, clubs and offlicences in Sussex, claims an investor withdrew backing from the club earlier this season, leading to the money troubles.
He is thought to be on the verge of entering into a Company Voluntary Agreement and has chosen Begbies Traynor as administrators. The firm will put together a rescue package.
Malcolm Fillmore, a partner in the Crawley-based insolvency practice Atherton Bailey, said: "Administration would buy the Majeeds time to dig themselves out of the mess.
"The administrators would begin negotiating with the creditors, who include staff, former staff, trade suppliers and, of course, John Duly, who is still owed a significant sum.
"They will probably get a fraction of what they are owed."
He added: "It will be at the administrators' discretion what involvement, if any, the current directors will have."
Begbies Traynor has earned a reputation for helping football clubs with money problems. The firm has previously taken Wrexham and Kingstonian football clubs into administration.
But fans are concerned administration would be the easy way out for the Majeeds.
A joint statement by the Crawley Town Supporters' Club and the steering group of the supporters' trust Devils Trust said: "It is a time for supporters to show unity, put any differences behind us and move forward together.
"The latest events at the club mean that we are once again entering a period of uncertainty and many fans may be feeling disillusioned.
"But the club has faced difficult situations before and in the past we have demonstrated that we are at our best in adversity.
"No one doubts the potential of the club or the loyalty of its supporters. Although we all expect it to be a painful experience in the short-term, the long-term prospects for the club still remain exceptional."
Rob Sadler, the Begbies Traynor accountant dealing with Crawley Town, refused to comment yesterday. Azwar Majeed could not be contacted.
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