Hibernian skipper Kevin Thomson and Scott Brown will be dropped for the Boxing Day derby against Hearts, claims the players' agent, Willie McKay.
The disgruntled duo sought a meeting with manager John Collins after it emerged that Hibs had turned down a £3m joint bid from Charlton Athletic.
"John Collins reacted very angrily to this request, which took the players by surprise," McKay told the Daily Record.
"He did more than threaten them - he told them they won't be playing."
Thomson will miss Saturday's Scottish Premier League visit by St Mirren through suspension.
And Brown could also be missing, with Hibs quoting an injury.
"To threaten them with their places in the derby match is just the final straw"But it seems that Collins is prepared to drop two of his best players for Tuesday's Edinburgh derby.
"Kevin and Scott asked to see the manager to discuss the Charlton offer," said McKay.
"They wanted to ask why he did not inform them of the bid or give them any reason for it being rejected."
McKay says the players have been left reeling by Collins' reaction to their request.
"That has devastated them because, despite everything, they have the good of the club at heart," said the players' representative.
"In fact, as we've said before, they'd be delighted to stay at Hibs and willing to take half the wages they could expect elsewhere to enable the club to make that happen.
"But Hibs have made it clear they won't discuss new deals while saying £3m is not an acceptable sum for them.
"You can understand then the boys' frustration - and that will only intensify if the club continue to treat them in this manner.
"To threaten them with their places in the derby match is just the final straw."