Shaun Harvey has hinted that Bradford could plunge back into administration unless they can resolve their remaining financial problems once and for all.
City's managing director explained: "We are close to the finishing line but there are a few hurdles to negotiate.
"In the event of failing to reach an agreeement with the last remaining stakeholders, then we will be forced to find additional funding elsewhere.
"As a last resort we could go back into administration," he told their website.
The club's renegotiations with their creditors has been going on since November and they are perilously close to a conclusion.
The anicipated level of funding required is estimated at between £3m-£5m, which chief executive Julian Rhodes and his family are prepared to fund.
Harvey added: "I have been assured by Julian Rhodes that in the event of the company having to be placed in the hands of an Administrator that his commitment to the club will not alter.
"He will do everything within his control to ensure the survival of the club."
Bradford are currently 23rd in Division One, eight points away from safety.
Meanwhile, long-serving Bradford defender Wayne Jacobs has been granted a testimonial year next season.
Jacobs, 35, has started 324 games for the Bantams since joining the club from Rotherham ten years ago.