Truro City chairman Chris Webb yesterday confirmed the club's decision to enter administration.
The Blue Square Bet South club, who also face a winding up order in High Court over an unpaid tax bill, expect their home game against Boreham Wood to go ahead today.
However, their long-term future is now thought to be in doubt. Webb replaced Kevin Heaney as chairman last week after the property developer was declared bankrupt by Truro County Court.
Webb issued a statement yesterday. It read: "Due to the club's continuing financial difficulties, it has been reluctantly decided that we have been left with no option but to place the club in administration, and I confirm that this process is to begin immediately.
"After their training session and meeting [on Thursday night], the first-team players informed us that unless the club took this course of action they would not turn out for the Boreham match [today], in view of the non-payment of their wages for August and the continuing uncertainty over the club's future funding."
The club have also been linked with moves to sell their Treyew Road ground. Last month, the chairman of Salisbury City, William Harrison-Allan, said he was hoping to do a deal with Heaney.
Webb added: "Obviously, this is an extremely difficult time for the club, but I can assure everyone concerned – players, supporters and staff – that I and my colleagues are working tirelessly to ensure that every possible effort is being made towards securing the survival and long-term success of the club."