League One Coventry City are facing a 15-point deduction after creditors rejected a deal over debts and left part of the club on the brink of liquidation.
They are still set to start the season at Crawley on Saturday, reports BBC Sport.
Coventry City FC Ltd, went into administration in March following a rent-row with Arena Coventry Limited.
It now faces liquidation after ACL, which runs the Ricoh Arena, rejected a Company Voluntary Arrangement at a creditors' meeting on Friday.
Had the CVA, a payment scheme between an ailing company and its creditors, been accepted, the club may have been able to come out of administration.