The man leading the bid to buy Wrexham FC says he is re-thinking his options after an 11th-hour "blow".
The club must come out of administration by the weekend
Neville Dickens said he has been told the Premier League is opposed to millionaire businessman Steve Morgan lending Wrexham FC £2.5m.
But the Premier League denied it was against the deal going ahead.
Despite the problems, Dave Acland, the man overseeing the deal to bring Wrexham out of administration said: "I'm confident it will be done."
Under Football League rules, Wrexham FC must come out of administration by Saturday before they can fulfil their opening fixture of the 2006-7 season at Wycombe.
Wrexham went into administration more than 18 months ago and were penalised 10 points by the league during the 2004-5 season which saw the club relegated.
A consortium led by former director Neville Dickens has led a bid to buy the club from the administrators.
But Mr Dickens said on Wednesday that his bid had run into late problems.
Mr Dickens' consortium depended on a loan from property millionaire Mr Morgan.
By lending money to Wrexham, Mr Morgan could in theory exclude himself from becoming a director at Liverpool FC, where he is a major shareholder.
Mr Dickens said his lawyers had told him the Premier League was opposed to Mr Morgan making the loan, because it could create a conflict of interest for him between Wrexham and Liverpool.
Mr Dickens said: "This is a real blow to us."
"We've now got to look at arranging other guarantees."
But a Premier League spokesman said: "It's just not true that the loan is an issue.
"Mr Morgan is perfectly entitled to make the loan.
"All we have done is clarify the situation by answering a hypothetical question which he raised - would he be allowed to become a Liverpool director if he made this loan.
"We told him that it would contravene our rules, but that he would have 30 days to dispose of the loan.
"We are not blocking this deal - the ball is in Steve Morgan's court. He can make the loan if he chooses."
The administrators trying to secure the deal by Saturday said "supreme efforts" were being made by all parties to achieve a successful conclusion.
Dave Acland and Steve Williams said they hoped "to be able to make a positive announcement shortly".
They added: "As administrators, we have been unable to comment on private, confidential and, in some cases, commercially sensitive information surrounding the sale.
"We have felt, and still feel, it is inappropriate to debate such matters in the public arena.
"We have had to balance the prospect of completing a successful sale against the desire of fans to understand the ongoing process."