Dunfermline Athletic chairman John Yorkston has warned 11 players out of contract at the end of the season that they will not be offered an increase in wages to stay at East End Park.
Pars goalkeeper Derek Stillie is out of contract in the summer
The majority will have to accept wage cuts if they are to win new contracts with the Scottish Premier League club.
Veteran striker Craig Brewster, Scotland squad goalkeeper Derek Stillie and former Rangers defender Scott Wilson are among those whose current deals end this season.
Dundee went into administration last week and some analysts have warned that Dunfermline are the most financially vulnerable of the other 11 SPL clubs.
Yorkston insisted that such a drastic measure was not an option but indicated that cuts would have to continue at East End for some time.
"If these players are to be kept on by our manager, Jimmy Calderwood, none of them will be made improved offers," he told the Daily Express.
"In fact, the vast majority will have to take a wage cut to stay.
"There may be an exception here and there for younger players who are on low wages and who are considered to have a bright future at the club."
Dundee's administrators have imposed a wage ceiling of £1500-per-week and need to sell some of their best talent in January to keep their club afloat.
But Yorkston said: "Let me stress that there is no need whatsoever to sell any of our players.
"However, we all know, because of the difficult financial climate, almost every player in Scotland, no matter where he plays, has a price. We are no different."
Dunfermline earlier this season paid off six players still under contract who were no longer in Calderwood's first-team plans.
Yorkston will continue to slash the size of the playing squad to reduce the club's debts.