The board of the Football Conference is meeting this afternoon to decide the future of Truro's stricken football club.
The club is expected to be formally expelled from the Football Conference this afternoon when board members meet at 1.30pm.
Last night the West Briton broke the news that administrators brought in to rescue the club had not managed to raise a £50,000 bond necessary to keep the club in the Football Conference.
Administrators told the West Briton they had raised £10,000 from Cornwall Council and had a potential purchaser on board but this was not enough to satisfy the conditions agreed with the league.
Dennis Strudwick, general manager of the conference, said: "The administrators have confirmed that they have not been able to fulfil the requirements of the Football Conference.
"They had an investor in the wings but they only appeared on Wednesday night so the time constraints were too short."
Mr Strudwick said the board would look carefully at the situation this afternoon and make a formal decision before the end of the day.
Players from Truro City have paid tribute online to the fans and all involved in the club while mourning its loss.
Club captain Jake Ash wrote on Twitter, the social networking site: "Massive love to the fans. Incredible journey, have loved nearly every minute. Very proud to have been part of something amazing. Thank you."
The 123-year old club has enjoyed great success in recent years but went into administration following the bankruptcy of former chairman, Kevin Heaney.
If the club is formally expelled from the league it is expected to go into liquidation.