EMOTIONAL Darren Ferguson has finally opened up to express his innermost fears for crisis-riddled Wrexham to chillingly admit, "This time next week the Red Dragons could be finished!"

The North Wales club, who are sinking in a £3m ocean of debt, face a winding up order in the High Court on Wednesday - only four days after an FA Cup first round tie at non-league Hayes.

Although the prospect seems too horrific to contemplate, Tuesday night's 2-1 defeat at Blackpool could prove to be the final league match in Wrexham's proud history - a legacy which dates way back to 1872.

Skipper Ferguson says he is saddened by the prospect. As is his famous father, Sir Alex, manager of Manchester United.

Ferguson senior, just like Darren, has a fond regard for Wrexham.

Whenever United are not in action, he travels to the Racecourse to watch Darren. He had a great rapport with former Wrexham boss Brian Flynn and he has loaned a number of United starlets to the club.

Darren Ferguson, who has racked up 238 matches during his five years at the ailing club admits what is happening is hurting Sir Alex, too.

"I haven't really discussed Wrexham's situation with him in detail because he has more than a few problems at Manchester United right at this moment," says Darren.

"But he is obviously a football man and is very sad to see what's happening to us at the moment."

Three-times FA Cup quarter-finalists, the Red Dragons have also lifted the Welsh Cup on 22 occasions and carried Wales' flag high in the European Cup Winners' Cup on eight occasions between 1972 and 1996.

To Wrexham fans, the Racecourse has been their own theatre of dreams.

Yet alarming terms like administration and bailiffs have become frighteningly familiar to Wrexham's beleaguered staff and players in recent weeks.

The club had its electricity supply cut off less than 10 days ago and a delay on wages has become a sad norm.

If the court hearing goes wrong next week, Wrexham's name could follow Maidstone, Aldershot, Accrington Stanley and, more poignantly, Newport County, onto the Grim Reaper's scroll.

None of those clubs have managed to regain precious Football League status.

Ferguson said, "We play Hayes in the FA Cup first round this Saturday. This is a competition that we've sparked more than a few shocks over many years - it's just frightening to think this weekend could be our final fixture.

"Wrexham has been a big part of me in recent years. I'm 32 and have another two and a half seasons remaining on my Wrexham contract. I think it's fair to assume I would have finished my playing career at the club.

"I could never see my playing days ending anywhere else. It's a wonderful little football club with great facilities and an even greater tradition."

The Inland Revenue, legal eagles and Manchester-based property mogul Alex Hamilton will have a huge input into what unfolds next, of course.

Ferguson said, "Maybe administration could prove an option for Wrexham - a lot of clubs have gone that way in football today,"

But he also warned, "If that happened we'd get a 10-point deduction because of new rules, which would plunge us into the relegation zone.

"Administration normally means you have assets. But our biggest problem is that we don't have any - everything we have is owned by other people.

"It's a massive dilemma and our future is very much in the hands of other parties.

"If Hamilton is prepared to do a deal - rumoured to be £2.5m - with the Supporters Trust or somebody else fine. If not, we're in terrible trouble."

Asked if he would meet with Hamilton for a showdown, Ferguson replied, "I can see where this question comes from, but I don't see what could be derived from the exercise.

"The whole scenario is out of our hands - that's a frightening fact!"

Ferguson was among the Wrexham number that was forced to wait for wages last week - a legacy of the club having its bank account frozen.

He reflected, "Waiting for your salary is not a nice situation to find yourself in because everyone has commitments like a mortgage.

"Even though we've always eventually got paid, wages have been delayed in the past. But the situation is a lot worse than that at the moment - this time next week we might not be in existence.

"It's something that I'm struggling to come to terms with. We've had problems at the club for months. Yet throughout it the manager - Denis Smith - and everyone have been absolutely professional."

Ferguson's words ring true, of course. The troubled Red Dragons have reached the LDV Vans Trophy northern area quarter-finals and are holding their own in League One - despite collapsing at Luton and Blackpool since last weekend.

"Since our situation became public, the club's followers have stepped forward and shown their affection for Wrexham FC," reflected Ferguson.

"There is a large group of them attempting to negotiate with the club owner.

"But I think Wrexham's players and backroom staff have to take a lot of credit for the way they have dealt with things. That's why it would be an absolute tragedy if the club fell through.

"You're talking about people's careers at stake here."

Ferguson is prepared to consider any option in a bid to maintain Wrexham's existence - even the unthinkable, the Red Dragons ground-sharing with arch-rivals Chester or Tranmere.

He said, "Moving to another club's stadium might be an option. But, like so many others, I'm not certain of the legal ramifications that currently surround the Racecourse ground.

"I just want the whole thing sorted out so that we can move forward as a club."

But the hurt Ferguson carries over the 2-1 setback at Bloomfield Road two days ago is more than the loss of three important League One points.

The canny Scot knows that the 90 minutes played within the shadow of Blackpool's Pleasure Beach and Golden Mile might prove more significant than that.

It could be the end.