Launceston have announced that director of rugby Simon Owens has resigned.
The move follows a meeting between the squad and club officials on Monday evening, after the club failed to pay its players.
"The executive are now looking to appoint a new rugby management team," said a club statement.
"It has already been agreed [the management] will consist of existing senior players and coaches already within the squad at Polson Bridge."
There had been concern that the club would not be able to fulfil their final two fixtures in the National Two South season if they could not pay their players.
"The majority of funding has already been secured to satisfy outstanding wages to the players," the club said.
"Finding the balance of the money will continue in earnest until the shortfall is achieved.
"A full and frank discussion also took place regarding the way forward as a united club with a clear vision for future success," the statement added.
Launceston have been dogged by financial problems in the past few seasons.