Cymru Premier clubs are in danger of being driven “to the edge of the cliff” without further financial support.
Aberystwyth Town chairman Donald Kane made the warning, adding that clubs are “playing beyond their resources”.
Clubs are currently operating without gate receipts with games played behind closed doors because of the Covid-19 pandemic.
“It just worries me that we are being taken right to the edge of the cliff before something happens,” said Kane.
Kane told BBC Radio Wales Sport: “I can’t understand why they want to get us into the position to do that.
“I don’t think the league will continue if we don’t get some sort of financial support. Somewhere along the line common sense has to creep in.
“We are speaking to the FAW and we’ve taken note of the National League having been given money in England.
“We’re very hopeful, through the Barnett formula, that the Welsh government will look at us in the same light because it’s only what we need and in all honesty what we deserve.
“We are, at this moment in time, playing, but we’re playing beyond our resources.”
Kane, a former Aberystwyth player, recently warned the Cymru Premier League “is dying” and that “many clubs will fold” unless they receive Welsh Government assistance.
Fifa has given the Football Association of Wales (FAW)) a £750,000 grant to support clubs in the top four tiers of its men’s domestic leagues.
But FAW chief executive Jonathan Ford admitted the money alone would not be enough and called for support from the Welsh Government.
Caernarfon Town, who had the highest average attendance in the Cymru Premier last season, estimate that they bring in around £3,000 in home gate receipts.
“They’ve [FAW] forced us to play under these circumstances so they need to take responsibility to help us financially,” chairman Paul Evans told S4C’s Newyddion.
“Without the money through the turnstiles it’s going to be incredibly difficult for us. The situation is quite fragile at the moment.
“We hope we can get to the end of phase one in January, if we’re lucky, but we won’t be able to last the full season and 32 games.”
FAW chief Ford fears for clubs’ futures if fans cannot attend matches and wants the Welsh Government to ease the situation by allowing supporters to return.
“We’re very keen to get supporters back,” Cymru Premier general manager Gwyn Derfel said.
“Ourselves and the Welsh Government were hopeful they would have been back by now, but unfortunately there’s been a rise in the infection rate.
“90% of the association’s budget comes from the national team and because fans are not allowed in for international games then as an association we are looking at a loss of over £3m this year.”
A Welsh Government spokesperson said earlier in October: “We recognise the unprecedented pressure on the whole sports sector.”
The spokesman added: “We recently announced a £14m package of funding.
“We continue to work closely with Sport Wales and all the governing bodies, via the Welsh Sports Association, to consider the ongoing challenges.”