Officials at Lincoln City Football Club are searching for new sponsors after three companies said they wanted to stop backing the team.
Contract Solutions, Sports TV and Castlemaine Accountancy have all submitted written requests to the club to end their sponsorship deals.
Chairman Steph Wright said the timing of the withdrawal was frustrating.
Former director of the club Ray Trew is involved with all three companies. He was not available for comment.
Ms Wright said: "We will make sure that Lincoln City Football Club doesn't suffer any financial loss through this.
"There will be a lot of enthusiasm for the sponsorship deals, which we will now make available to other companies, but we are frustrated at the timing of this news."