Wexford Youths are facing a winding-up order over a €200,000 debt, according to The Sunday Times.
The club, relegated from the Airtricity League Premier Divsion last season, are reported to be on the brink of collapse due to the sum owed to independent TD Mick Wallace's construction company M&J Wallace.
M&J Wallace, which owns the club, is in receivership and liquidation. Wallace, the chairman and founder of the club, was declared bankrupt in December.
Youths surrendered a two-goal first-leg lead to Drogheda United in their relegation/promotion play-off in November to slide out of the top flight.
Last February, the FAI completed a deal to purchase their home ground Ferrycarrig Park from a receiver appointed to properties of Wallace.
Ferrycarrig Park has been the home of Wexford Youths since they entered the SSE Airtricity League in 2007, and was owned and developed by the club chairman.