Duncan Payne, chairman of the Ilkeston Football Club Supporters Group, voiced his concerns but is hopeful that football will remain at the New Manor Ground.
Payne said, "At this stage we have now idea whether the club will survive the crisis or not. All supporters are rightly concerned and some are worried that if no buyers are found, not only will the club fold but potentially it could be the end of senior football in the town.
"I have contacted Erewash Borough Council to discuss the ramifications if the club goes under and I've been advised that a discussion will take place in the near future.
"I shall be seeking reassurances from the Council that the future of the New Manor Ground is safe."
The Supporters Group has launched an online petition for fellow supporters to sign highlighting the need for the ground to remain open.