Tensions between players and administrators at Derry City have reached an all-time high after squad members spoke to local media late last night to express their anger and concern at the state of the club’s finances.

The players are owed three weeks wages as it stands and look to be in danger of being left short another five for October if the club cannot secure a financial boost by next Friday.

Reports had suggested the club might seek that cash injection from the FAI today, and it is believed this was the understanding of the players. However, no meeting has taken place between to the two parties, nor was one ever scheduled to, according to the association.

The players were prompted to the go to the media after five squad members - Peter Hutton, Ger O’Brien, Steven Gray, Clive Delaney and Gareth McGlynn – met with the board of directors on Wednesday night after which they claim to have been told any player can leave the club on a free transfer if they so wished.

Such an offer would suggest a dire state of affairs on the club's books and the squad chose to highlight the problem in the Derry Journal.

This decision was not taken in conjunction with the Professional Footballers’ Association of Ireland (PFAI), who had been in talks with the club and the players earlier this week, but not present at he meeting between the two on Wednesday.

“A rosy picture continues to be painted in the local press in relation to the difficulties we have encountered this season, yet that's not the reality,” claimed one player.

Another remarked: "We've done everything in our power to assist the board since these difficulties were made known to us. We agreed to keep everything 'in house' and not run to the press but now we've gone beyond that stage and we feel it's important that we let the public know the situation, particularly that fact the club is in danger of disappearing off the map.”

For its part the club has expressed its disappointment the players chose to publicise the issue, which has been simmering in the background, but had yet to boil over into the public domain.

The club has insisted numerous routes have been explored in a bid to secure funds, but that it remains determined to honour “100 per cent of their (players) contractual entitlements”.

“The players were advised of various avenues which the club were working on, in order to generate the required finance to fulfil the remaining 20 per cent of wages and it was agreed that we would meet again on Monday morning at 9am, at which time the club would be in a position to make a formal proposal to address the balance owed,” a statement on the club’s website read today.

“We are shocked that the players have decided to make some of the details of these discussions public whilst refusing to discuss various other issues that were also discussed at the meeting and we feel the press report today has only hindered our efforts to actually resolve the issue at hand.”

As it stands tonight’s meeting with St Patrick’s Athletic in Inchicore does not appear to be in any danger and there has been no suggestion by the players that strike action is an option at this stage, but it is believed the meeting scheduled for Monday has been jeopardised by the decision to go public.