Wrexham Supporters' Trust say they are worried by a flurry of activity from potential buyers interested in taking over the club.
The Racecourse Ground hosts football and rugby matches
Administrators say they have had nine expressions of interest in buying the League Two club so far.
The fans' group is concerned that these may not turn into a solid purchase, with the club facing a league deadline just over two months away for its sale.
The club went into administration in 2004 with debts of more than £4m.
Under recently introduced Football League rules, administrators Begbies Taylor only have until 3 June to find a buyer or it could be thrown out.
However, there is some hope that the deadline may be flexible.
But Bruce Clapton, chairman of the Wrexham Supporters Trust, said a sudden rise in interest was not necessarily a good sign.
He said: "If these interested parties genuinely wanted to save the club, where have they been up until now?
"You have to wonder why they didn't declare their interests before, when they could have saved the club.
"They made no effort to contact the fans beforehand to reassure them."
He added: "I look forward to seeing how many of these expressions of interest actually turn into bids. There's a million miles between expressing an interest and actually making a purchase."
Former Wrexham FC owner Alex Hamilton
The interest was revealed following a ruling on 14 March by the appeal court that the club - and not former club chairman Alex Hamilton - should retain ownership of the Racecourse ground.
Mr Hamilton originally lost his case for ownership last October, after taking over as Wrexham chairman from his former business associate Mark Guterman in 2004.
By the end of 2004, the club had gone into administration with massive debts.
The Football League imposed a 10-point penalty on the club and in May 2005 Wrexham were relegated to League Two.
Last October, Birmingham High Court decided Mr Hamilton's company CrucialMove had improperly acquired the freehold of the ground.
Mr Hamilton launched an appeal, but the appeal court dismissed it, saying he "did not act in good faith" in a transaction critical to the club's future and plans to realise the ground's development potential.