The Irish Football Association is preparing to help ease Glentoran's cash flow crisis that has left players without their wages for April.
BBC Sport understands the association will provide a short-term loan, with agreement expected within days.
Unlike previous cases, it is not thought to be an advance payment of prizemoney, but instead a short-term loan that will be repaid by the club.
Meanwhile, Colin Nixon has signed a new one-year deal with the club.
The 33-year-old, who has made 772 appearances for the Glens, winning 24 trophies including four league titles, has shaken hands on a deal and is expected to put pen to paper soon.
The issue of overdue pay had caused unease in the Glens dressing room, but senior players have been assured all wages owed will be paid within the next week to 10 days.
Glens captain Colin Nixon told BBC Sport: "I have met with the chairman and vice-chairman and they have told me the situation is now under control."
Last year, the Irish FA lent £233,000 to a number of Irish League clubs which was in effect an advance of prizemoney up to May of next year.
The Glens avoided being wound up last year thanks to a donation of around £450,000 from a mystery benefactor.
Glentoran needed that money to pay debts which included a huge tax bill.