Bradford Bulls majority stakeholder Chris Caisley says the club's chairman Peter Hood should step down.
The Bulls need to raise £500,000 by Friday to avoid administration, with the club currently £200,000 short.
Caisley told the Bradford Telegraph and Argus: "The majority shareholders have asked Peter Hood and [director] Andrew Bennett to stand aside in order that work could commence immediately.
"They have declined to do so," added Caisley, who has a 25% stake at Odsal.
Caisley, who left the club as chairman in 2006, remains the club's largest stakeholder and has called for an extraordinary general meeting.
The former Bulls chairman also said he believes he can help the club and that he had already received offers of support from fellow stakeholders.
Caisley continued: "Peter seemingly believes he and [director] Andrew Bennett give the club the best chance of successfully finding a pathway through the financial difficulties because they are in discussions with potential investors who are of a similar view.
"The majority shareholders disagree and have therefore asked the club's directors to convene an extraordinary general meeting when the matter can be dealt with."
Hood is expected to respond to Caisley's comments later on Thursday.
Meanwhile, Leeds North West MP, Greg Mullholland, the chairman of the Parliamentary Rugby League Group, has written to the chairman of the Bulls' bankers, Royal Bank of Scotland, urging him to extend Bradford's overdraft to help them through their current crisis.
In his letter he said: "The response from Bulls fans and fans from around the country has been amazing and the whole rugby league family is doing what it can to save the club.
"The response so far shows that the money can be raised, so RBS should allow more time so this can happen to allow Bradford Bulls to carry on in Super League which is in everyone's interests."