Weymouth Football Club has turned down a £25,000 takeover bid from a consortium led by businessman Ian Ferguson.
The Zamaretto League Premier Division side described the offer as ‘way short of the football clubs best interest’ whilst Ferguson hasn’t ruled out talking control of the club yet.
A statement on the club’s official site added: "It [the offer] would not secure even its short term future. The Weymouth FC Supporters Association are in agreement with the figures that are required to take the club to a new level."
Speaking to the Dorset Echo, Ferguson questioned former chairman George Rolls’ valuation of the club.
"I’m not holding my hand up anymore. He said the offer was an insult so I apologised for insulting him,” Ferguson said.
"But you can’t talk a business down and then talk the price up – it does not work like that. He says he will only deal with serious bidders but I don’t see a queue of people wanting to buy the club.
"Our plan is to buy the club on behalf of the town and the supporters. We need to get back to having a team that the fans can identify with, as well as playing at a level we can afford.
"We can’t keep having this boom and bust scenario all the time. The club has got to stand on its own two feet," he added.
Former chairman Rolls resigned from his position last week after threatening to walk away from the club if he did not get the backing of the fans.