Wimbledon are in danger of being sold for a nominal sum or even declared bankrupt, according to the club's owner Bjorn Rune Gjelsten.

The First Division club are hoping to get approval from the Football League to move to the Milton Keynes Bowl today, but Gjelsten admitted he is becoming fed up with the club's problems.

"Wimbledon has been a burden, not in the least economically," he said. "Bankruptcy is, tragically enough, an alternative. We have also considered selling the club for a symbolic sum, if anyone expresses an interest."

Gjelsten bought Wimbledon with Kjell Inge Roekke in 1997 and revealed that they have lost £43 million since then, during which time the club have also lost their Premiership place.

He cited problems with Merton Council involving proposals to build a stadium in the borough, while the plan to move to Milton Keynes has provoked death threats.

Leicester City have asked their players to take a 25 per cent pay cut after being ordered to pay a £1.5 million tax bill by tomorrow or face having their assets frozen by the Inland Revenue.

The players were told of the club's plight in a lunchtime meeting yesterday and, like Watford and Barnsley before them, the request was greeted with a mixed reaction.

"There is a such a sliding scale of wages here that it is unlikely all players will agree to such a demand," said an insider.

English Premiership and Football League managers will have to declare personal or financial conflicts of interest in transfer dealings under a code of conduct intended to tackle corruption.

The League Managers Association has drawn up the code following consultation with the Premier League and the Football Association in an attempt to end abuse of the transfer market.

The code, which will be enforced by the FA's compliance unit, will require managers to declare if they are related to or are represented by an agent with whom they are negotiating.

Alex Ferguson drew criticism recently for purchasing players represented by his son Jason. In a biography published earlier this year it was alleged that the Manchester United manager tried to force Jonathan Greening and Mark Wilson to join his son's agency before he would sell them, accusations that he denied. Both subsequently left Old Trafford for Middlesbrough but remained with their agent, Mel Stein.