Milton Keynes City FC are on the brink of folding. The Spartan South Midlands League Premier Division club may go into voluntary liquidation this week after failing to attract new directors and investors.
Chairman Bob Flight, who has been connected with the club for 20 years, confirmed this week City have withdrawn from the South Midlands League as well as the Allied Counties Youth League.
In a statement issued on Tuesday Mr Flight said: "We have tried for some time, following the decision of the present directors to stand down at the end of the season, to attract new directors and investors to the club. However, this has not produced any significant interest despite advertising in the local media and the national non-league press."
He added: "The situation has been caused by the lack of people ready to invest and take effective control of the club and the confused situation with the relocation of Wimbledon to Milton Keynes."
It was following Mercedes Benz's move into Wolverton Park that the club took the name Milton Keynes City.
All five directors are understood to be stepping down, including Mr Flight, who continued: "It is all very sad. We have taken the club as far as we can. We are not wealthy people and what is needed is a lot of money and expertise to take it up to another level."
Manager Andy Milne has been informed and he has passed on the news to the players.
Mr Milne said this week: "I'm very disappointed. There has been little reaction and this is typical of the lethargy of Milton Keynes.
"I had a team in place and although we under-achieved last season, I was confident of an improved season."
Mr Flight added: "If the club does fold we want to do things responsibly and look after our creditors. We do not want to harm those who have helped us in past years."