Greg Dyke today admitted that Brentford face a "bleak" financial future if fans reject a £5million lifeline from betting tycoon Matthew Benham.

The ex-BBC Director General, who sits on the board of the League One club, issued his stark warning as supporters prepare to vote on Benham's proposal, which could see ownership transfer to the reclusive millionaire from Bees United, the supporters' trust that have been in charge at Griffin Park since 2006.

Benham, who has already given £4.5m to the Bees in interest-free loans, has promised to pump £1m into the west Londoners every year until 2014 in return for taking operating control.

When that period expires, Bees United will have the option to buy out Benham's 35 per cent stake or offer him the chance to become the club's majority shareholder.

Sections of Brentford supporters are suspicious of ceding control following the unpopular reign of former chairman Ron Noades and their fears have hardly been allayed by Benham's desire to stay out of the spotlight.

Details of Benham's background are sketchy. Aged in his early 40s and a lifelong Brentford fan, he is the managing director of Smartodds, a Highgate-based firm which describes itself as offering "statistical research and football modelling services in the betting sector" on its website.

Other than that, little is known and even his physical appearance is a mystery.

Handing control of a fans-run club to such an anonymous figure might be disconcerting for the Bees board, but the implications of turning down Benham's offer could be disastrous.

Brentford are £10m in debt and revealed annual losses of more than £500,000 in their most recent accounts.

Crowds at Griffin Park averaged just 5,500 last season, despite Andy Scott's side winning the League Two title, and the club's debts are expected to outweigh their assets by 2011.

Now Dyke has urged Bees United members to back Benham's bail-out when the issue is put to the vote later this month.

In a letter to fans, he wrote: "Without this investment, we consider that the situation looks bleak.

"Brentford FC has survived over the last few years with loan financing from a number of sources [including Matthew Benham] but it is clear that this is not sustainable.

"A number of those loans became due in January 2009 and should the proposed deal not complete, the risk of the club becoming insolvent is significant."

Benham, perhaps conscious of his public profile - or lack of it - has attempted to assuage the doubters with his own letter to supporters, clarifying his motives and stressing that his proposal would not result in major upheaval for the club.

Instead, he has promised to retain the highly-rated Scott as manager, support the club's proposed move to a new stadium in nearby Kew and allow Bees United to retain their so-called 'golden share', preventing the sale of the ground for asset stripping.

He wrote: "What the club needs, in my view, is more investment which is what I am offering to provide.

"I already have a good relationship with Andy Scott and recognise the experience and talent he brings to the role of manager.

"Final responsibility for player recruitment, team selection and tactics will remain the responsibility of the manager. I am not in any sense a frustrated 'wannabe' manager."

A further pledge of funds for new signings will doubtless appeal to Scott, who has been forced to prepare for Brentford's first season on the third tier of English football since 2006-07 with one arm tied behind his back.

No money has been available for new signings so Scott has relied on free transfers to add depth to his squad.

Alan Bennett, who spent last season on loan from Reading, has joined permanently while Sam Saunders, Danny Foster and Ben Strevens, were tempted across town from Dagenham & Redbridge.

But Scott's resources remain flimsy, especially as Strevens has already seen his chances of featuring on Saturday jeopardised by an ankle injury sustained in the friendly win at Harlow.

Scott, for one, will hope that when the votes on Benham's proposal are counted and the result announced on 27 August, a new era will have been ushered in at Griffin Park.