Fan-owned non-league club AFC Telford United need to raise £50,000 in extra income over the next two months.
The National League North side insist they are not on the verge of a reported financial disaster – but need to raise money to improve a cash flow problem.
They also want to change structure from being run by a Supporters’ Trust.
“We have urged the Trust Board to enable changes to the ownership model of the club which would allow external investment,” said a club statement.
“The club is not in a terminal state. However, we need to pull together now in order to avoid that possibility becoming a reality.
“We are now in a position where cash flow is extremely difficult. Income has fallen, particularly from gate receipts, and some key costs have risen.
“For the record, there is no winding-up order against the club nor are we aware of one pending. Players and off-field staff were paid on time at the end of September.
“Ideally, we need to raise £25,000 between now and the end of October, and the same by end of November. The primary way this can be done is obviously by generating as big a crowd as possible for Saturday’s game.”
Telford, relegated from the fifth tier in 2015, are now in danger of a further relegation. They are 19th in National League North – five points but just one place above the three-team relegation zone.
They host FC United of Manchester in a rearranged league game at the Bucks Head on Saturday (15:00 BST).
AFC Telford United was formed by fans in 2004 following the liquidation of the old Telford United.
Since being reformed at the eighth tier of English football, the Bucks have twice been promoted to (2011 and 2014) and relegated from (2013 and 2015) the fifth tier.