Halifax Town have approached fans' community website MyFootballClub in an attempt to save the club from folding.
The Shaymen face a winding-up order on Wednesday over unpaid taxes and talks with a consortium seeking to take them over appear to have run out of time.
MyFootballClub has enlisted over 50,000 members since May and is now collecting money to buy up a suitable club.
"I can confirm we have made an approach to MyFootballClub," said a spokesman for Halifax director Geoff Ralph.
"Having received no communication from the consortium's solicitors, and in the face of the winding-up petition which has been presented to the High Court, we have no alternative but to seek intervention from elsewhere."
Halifax owe more than £100,000 to the Inland Revenue and have been in takeover talks with the consortium since last year without reaching a resolution, despite the club saying last week that they were confident of agreeing a deal.
"The club is a popular choice among our members, so it is one we will consider"
The MyFootballClub website launched in May seeking fans willing to invest £35 each to buy a team, with each member an equal partner.
The website received over £100,000 in its first six hours of collecting funds.
Members will have a vote on transfers as well as player selection and all major decisions affecting the club.
A lawyer for MyFootballClub said: "We are not privy to Halifax Town's internal financial dealings. However, the club is a popular choice among our members, so it is one we will consider.
"We're just four weeks into collecting funds and wish to explore all opportunities, so we welcome contact from any club that feels we can help."
Simon Denton, editor of the Shaymen Down South fanzine and website said: "Given the recent history of Halifax Town, one is left to wonder whether a club run and owned by 50,000 could be any worse than what we have experienced to date.
"After all, we already have a stadium owned by 200,000 citizens. I like the idea of people across the world getting enthusiastic about the club I love."
Richard Harris, board member of both the Supporters Trust and the Stadium Trust, added: "A club run by the fans for the fans is a tempting proposition. We have got Shaymen Down South, why can't we have them north, east and west as well.
"I concede that this model for running a football club has its problems, but the challenge of solving them puts a smile on my face."
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