Wrexham Football Club has until 3 December to try and find a buyer or face possible administration.
Football has been played at the Racecourse since 1872
The legal hearing is the latest twist for the beleaguered club and will decide whether it can be put into administration.
Football has been played at the Racecourse since 1872 and fans are worried that the problems of the last two years could shape its future.
2002: Mark Guterman takes over Wrexham Football Club.
Mark Guterman, former chairman of the Dragons' arch rivals Chester City, became the majority shareholder of the Racecourse Ground after Pryce Griffiths retired.
When Mr Guterman bought Wrexham in June 2002 he told fans "judge me on what you see, judge me on the signings and on-the-field activity".
He resigned two years later.
At the time he said he regretted he was unable to take forward his plans to redevelop the Racecourse.
2004: Alex Hamilton named new chairman.
Property developer Alex Hamilton takes over from his former business associate Mark Guterman as chairman of Wrexham Football Club.
He had a 78% share in the League One club.
26 May 2004: Wrexham football fans packed a meeting demanding answers about the future of the club.
The forum was arranged following Mark Guterman's resignation as chairman.
At the meeting, directors said it was no secret that Alex Hamilton was a property developer and that he had plans to develop the Racecourse.
17 June: Supporters of Wrexham Football Club vowed to band together in an attempt to ensure its future.
They asked a representative of new owner and chairman Alex Hamilton to find out how much the property developer would want to sell the club.
7 July: Alex Hamilton outlines his plans to develop the Racecourse.
"We are looking at serious plans to have an 'in situ' development which does involve the car park and other property adjoining the stadium," Mr Hamilton said at the time.
15 September: Wrexham ground share denied.
Speculation arises that Wrexham's football ground could be sold and they could ground share with rivals Chester City.
This rumour was denied by bosses at the English-side football club.
Chester City chief executive Dave Burford dismissed the rumours and said nobody had spoken to Mr Hamilton about sharing the Deva Stadium.
20 September: Notice to quit ground.
Wrexham FC were given notice to quit their Racecourse ground after more than 100 years at the Mold Road site.
A document obtained by members of Wrexham Supporters' Trust revealed that the club were given notice on 21 July but it was made public two months later.
October 2004: Taxmen try to wind up club.
The Inland Revenue lodged a petition to wind up the League One side over an unpaid tax bill.
The club's debts were believed to be up to £5m, including a tax bill of £800,000.
Managing director John Reames announced his resignation.
29 October 2004: Alex Hamilton resigns.
During a meeting with his fellow club directors, Alex Hamilton resigned as the club's chairman.
However, he retained his 78% share in the club.
His resignation followed Scottish Power-Manweb's decision to turn off the power off at the Racecourse after "failing to resolve issues" with the League One club.
It was restored a few hours later.
November 2004: Fans buyout plan rejected.
Two bids by Wrexham Supporters' Trust to buy the town's football club are rejected by Mr Hamilton.
17 November: Winding up petition lifted.
A winding up petition against Wrexham Football Club has been temporarily lifted, staving off the immediate threat of liquidation.
Club director Dave Bennett said they now have two and a half weeks "breathing space".
A legal hearing will go ahead next month to try and put the club into administration, said Mr Bennett.