Troubled National League side Gateshead have failed to pay players and staff their wages for September.
The club are bottom of the league and have lost their past five games, conceding 16 goals and scoring just once.
Earlier this week, Mark Nellist resigned from the board of directors and withdrew his funding support, citing that the Tyneside club was “not heading in the direction I would have liked or hoped for”.
But the Heed’s interim chairman Graham Wood said he was hopeful of quickly finding new investment for the club.
“Following Mark Nellist’s sudden decision to withdraw his funding support for the club we have been fully focused on seeking new investment,” he said.
“Significant progress has been made in the past 24 hours and we are hopeful of making an announcement in the next day or so.
“Meanwhile, to facilitate our efforts, Mark has agreed to make his shares available for a nominal sum.”
Lee Cattermole’s side next face Worthing at home on Saturday.