Gretna have no players, coaches and office staff remaining but could still have a future in the Scottish Football League.

Administrators have made every employee redundant after failing to find a buyer for Gretna, who have debts of around £4million.

However it is anticipated an offer will arrive from a Glasgow-based consortium, fronted by businessman Paul Davies, which could result in the club being saved from closure.

Talks involving the consortium and Scottish Football League officials have taken place, with the potential saviours of the Raydale Park club eager to learn whether Gretna will be admitted to the Irn-Bru First Division despite their current problems.

Gretna chairman Ron MacGregor told BBC Radio Scotland: "The negotiation is still in progress. We know the bidder who we have been talking to us is very, very keen to complete the deal."

MacGregor also suggested talk of Gretna's death have been "greatly exaggerated".

David Mundell, the Scottish Conservative MP for Dumfriesshire, Clydesdale and Tweeddale, has met with SFL chief executive David Longmuir in the past week.

Mundell said: "I believe there is still a chance that Gretna Football Club can be saved - providing the club does not go into liquidation. If that happens there would be no automatic admission to the Scottish Football League."

Mick Wadsworth, who has been director of football and caretaker-manager at Gretna during their relegation season in the Clydesdale Bank Premier League, was among the employees to be axed.

He does not expect to be summoned back to Gretna and claims most axed staff feel the same way.

Wadsworth said: "We're told there is still one interested party, but because there are no funds at the moment to carry on then everybody has been made redundant.

"So the assumption from that, for most of us, is that it's the end of the line regarding employment at Gretna."

Administrator David Elliot of Wilson Field Ltd confirmed there remains a glimmer of hope for Gretna.

The Borderers' relegation from the SPL was confirmed shortly after they were docked 10 points.

Supporters are hoping Gretna have a future at some level, but if they fold Airdrie will be promoted to the First Division and Stranraer will climb into the Second Division, forcing the SFL to seek another club from outside its ranks to join the Third Division.

Gretna struggled to complete the SPL season after owner Brooks Mileson withdrew his funding in February when he contracted a brain infection.

The Englishman bankrolled Gretna's rapid rise from the Third Division to the SPL to the tune of around £8million, but he has maintained a public silence on the club's plight after being released from hospital.