The Rotherham United administrator Jeremy Bleazard has confirmed he has asked the club's playing squad to take a wage deferral.
"The redundancies and wage deferrals are a necessity to enable the company to trade," said a club statement.
"Cashflows have been prepared until the end of the season. Even with the deferrals it remains extremely tight until a purchaser can be found."
The deal still has to be agreed by the Professional Footballers' Association.
"I urge fans and businesses to get behind the club and support it during these difficult and uncertain times. I am hopeful this great club can be saved"
"A number of people have expressed interest in purchasing the club, but formal negotiations have not been entered into with any party at this time," said Bleazard.
"I have held positive meetings with members of the Supporters Trust and Rotherham Council who have both offered assistance in saving the club.
"I urge fans and businesses to get behind the club and support it during these difficult and uncertain times. I am hopeful this great club can be saved."
The Millers slipped to a 4-1 defeat at Rochdale on Easter Monday leaving them with only a small chance of making the League Two play-offs.
606: DEBATE
With the loan deadline on Thursday, there have already been a number of clubs who are monitoring the players and know they could take them on the cheap by making offers directly to the administrator.
"There have been one or two cuts made and people around the club have lost their jobs. Really everything at the moment is very negative," Millers boss Mark Robins told BBC Radio Sheffield.
It was expected that the Irish consortium who are interested in taking over the Millers would be at the Rochdale match on Easter Monday, but illness kept Anthony McMullen away.
The property developer is expected in South Yorkshire in the next few days to have further talks about buying the club and ending the period of administration.
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