Salisbury City FC are facing expulsion from the Conference Premier for the second time in five years.
The Conference board has decided to relegate the Wiltshire club, despite the Whites meeting certain financial demands placed on them.
A club statement said: “On Friday £75,000 was transferred into the club solicitors client account to meet unpaid debts.
“The Conference board have also been given assurances that in the next seven days, the funds to meet all outstanding club debts will be paid.
“However, because of a legal issue in relationship to ownership of the club, the Conference board have decided to throw Salisbury City FC out of the league on Tuesday.
“It staggers belief that this is a Conference board who were quite happy, along with the FA, to endorse the appointment of Otail Touzar but following forensic investigation by the club to expose him as a fraudster, are now using him as an excuse to throw Salisbury City FC out of the league.
“Following legal advice, Salisbury City FC will now consider taking an injunction out on the Conference or taking the case to an FA independent appeal board.
“It is disappointing that the Conference have failed to give the club a seven-day extension to clear up their financial irregularities.
“As a result of their imminent action, it leaves Salisbury City FC with no choice but to take legal steps to safeguard their future.”
Salisbury were relegated two divisions in the summer of 2010 after being demoted from the Conference for administration-related reasons.
Under Darrell Clarke, they subsequently fought their way back into non league football’s top tier by winning promotion from the Southern League Premier in 2011 and the Conference South in 2013.
The club were recently taken over by Southampton businessman Mark Winter and Otail Touzar, but the latter has now been banned by the club.