LONDON Welsh fans have rallied around the stricken club in its hour of need.
The Old Deer Park-based club called in the administrators this week after main backer, chairman Kelvin Bryon, announced he could no longer afford to fund the club at its current level.
Welsh, who play in the second tier of English rugby, have harboured Premiership ambitions since turning professional last year.
They are due to be founder members of the RFU's new Championship League next season.
But with only a month's worth of funding left from Bryon, they could find themselves demoted down to the local leagues if no new backers are found.
It is a path already trodden by neighbours Richmond and London Scottish, who were both relegated eight leagues after being thrown out of the Premiership amid financial problems 10 years ago.
On the club's website, some supporters expressed anger that they were still making new signings right up to last week. The signing of former Worcester Warriors centre Simon Whatling was announced last Thursday, just five days before the administrators were brought in.
But London Welsh Supporters Club secretary Brian Jones said: "We are as much in the dark as anyone else about what's happening, but we are fully behind the club and hoping a solution can be found."
Bryon has overseen his club's journey over the past 20 years, from the lower reaches of Division Five South to become one of the top 18 clubs in England.
He said: "London Welsh is within striking distance of the elite level of English rugby, but I am unable to continue being the principal investor.
"To continue and achieve our dream of reaching the Premiership, we need other investors to step forward to join us on our exciting journey."
Carl Jackson, national head of administrators Tenon Recovery, assured fans they will aim to preserve the value and heritage of the club.
He said: "We will work closely with the board to attract interested parties over the next month, and urge anyone who is interested to get in contact with us immediately."
London Welsh has provided 177 internationals to Wales and 43 British Lions, including seven of the 1971 Lions team that famously beat the All Blacks.