The sobbing former football idol called his family in the middle of the night from a pier, vowing to throw himself off.
His frantic relatives in Newcastle immediately alerted pals as well as staff at a clinic near his south coast flat where he has been treated for his alcoholism.
They found him wandering on Boscombe Pier at 4am on Wednesday and took him back to his Bournemouth home.
He has not been seen since.
Friends of the ex-England star say he is now in the worst physical and mental state they have seen after a week of drunken incidents.
One said: "We want him to realise he has one more chance to save himself but it really doesn’t look good.”
Former Spurs and Newcastle star Gazza ended up on the pier after being asked to leave a casino in the city centre when he became abusive.
The friend said: “Paul called his family in Newcastle and then he called one of his sisters. He was rambling but he mentioned jumping off the pier.
"His family were frantic. They knew they needed to get someone to him quick.”
Gazza, 46, was arrested last week for allegedly assaulting ex-wife Sheryl, 47, in a drunken row at a train station.
He was later photographed propped up outside a London hotel with two gin bottles in his pockets and hotel staff coming to his aid.
The soccer hero had been staggering around on crutches.
He ended up in London’s Princess Grace Hospital and was kept in overnight but discharged himself the next day.
Pals say he seems to have accepted he will end up like troubled football legend George Best, who died after years of alcohol abuse.
Yesterday he reportedly told a friend he had been off the booze for a few days and is determined to win his battle.
But a worried pal said: “Gazza knows it is serious, we just all hope and pray he realises it could be the end of him if he doesn’t get proper treatment quick.
"People want to help him.”
Source: Newcastle United Mad