Twelve players have agreed to terminate their contracts with Clyde to prevent the club going into administration.
The club said in a website statement: "We recognise and appreciate the sacrifice that each has made."
Departing the club are top scorer Pat Clarke and fellow strikers Roddy MacLennan and Marc McCusker.
Billy Gibson, Stuart Kettlewell, Alan Trouten, Ruari MacLennan, Mark Brown, Willie McLaren, Alan Lithgow, David McKay and Ricky Waddell also leave.
Clyde came close to going into administration near the end of the season after the local authority threatened legal action to recover rent owed for Broadwood Stadium.
The Cumbernauld club released 13 out-of-contract players following their relegation from Division One.
And, even though those have now been followed by players who had deals for next season, Clyde stress that they are not yet clear of financial problems.
We felt that it would be insensitive to offer specific players contracts on significantly reduced terms whilst our future remained uncertain
"We were disappointed not to be in a position to retain any of the players, although we did make everyone aware through the PFA Scotland that we would be pleased to retain anyone on reduced terms," said the statement.
"But we felt that it would be insensitive to offer specific players contracts on significantly reduced terms whilst our future remained uncertain."
However, Clyde hope that terminating contracts would allow them to rebuild the club as they prepare for life in Division Two.
"Clyde Football Club would like to thank all the players who have recently agreed to terminate their contracts and support Clyde through its current difficulties," added the club statement.
"We expect that their support will not be in vain as we plan to rebuild for our first season in the Second Division since 2000.
"We have some very significant challenges ahead, but we are in a position to take these on without the threat of administration being forced upon the club through an inability to meet its obligations.
"Today marks the start of rebuilding our club. We cannot be complacent, our need for fundraising continues, but our future is now to a greater extent in our own hands and therefore we need to be united as the hard work begins on rebuilding the Bully Wee."
Last week, Clyde said they were looking to model themselves on Barcelona as they sought to restructure the way the club is governed.
Clyde Supporters' Trust will lead a consultation process and one of the group's directors, Gordon Thomson, said they were hopeful of moving from the present private limited company structure to a common ownership structure with stronger community links.
"After relegation to the Second Division, it may sound bizarre to look to the Champions of Europe for guidance, but we believe the structure at FC Barcelona represents the way ahead for us and, regardless of the massive gulf in status, its guiding principles could be applied at Clyde," he said.
"This is not a reaction to relegation, it has been in the planning for over a year."
The trust hopes to conclude the consultation process by the end of this year.
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