Dunfermline Athletic are to enter administration in the next few days.
Pars supporters not owner Gavin Masterton have put forward a six-figure sum which effectively acts as a bond with the administrator.
The man who will see Dunfermline through this period of cost cutting and job losses which will hopefully save the Fife side is no stranger to football club administrations.
Bryan Jackson, then of KPMG and now of PKF Accountants, steered Dundee FC through their second administration in 2010/11.
The players were told the news at training at Pitreavie today, and have also been meeting with their union representatives.
The First Division club had been presented with a winding-up order over a £134,000 tax bill, which was due to be paid today.
After talking to playing and coaching staff along with representatives of players union PFA Scotland, Director of Football Jim Leishman said: “There is a group of Dunfermline Athletic supporters who have underwritten the administrator’s fees, which is great.
“So we are back in the game.It was either liquidation where you are done and dusted, and you have nothing. But we are giving it a chance.”
The Pars are due to play a home match against Falkirk on Wednesday night.
For full coverage of today’s developments, see Wednesday’s Courier or try our digital edition.