Hearts manager John McGlynn says he would voluntary delay his wages if the move helped the club survive, hinting his players may follow suit.
The Scottish Cup holders have been issued with a winding up order by Her Majesty's Revenue and Customs over a tax bill of almost ?450,000.
Club bosses admitted on Wednesday that Hearts might not survive beyond next week's game against St Mirren, as they urged supporters to find the money to help them come through a critical period.
McGlynn quit Raith Rovers to take over the Tynecastle hotseat in June but does not believe it was the wrong decision in light of the club's problems.
"Not at all. I could not turn the job down" he said.
"If I pop my clogs tomorrow, then I will go as someone who has managed Heart of Midlothian Football Club. There's not many people who can say that.
"I'm very proud to manage Hearts. I wish it wasn't in this situation but I would never regret taking the job."
Hearts have struggled to meet wage bills in the last 12 months and are under an SPL transfer embargo following consecutive late monthly payments to some players and coaches.
McGlynn says he would voluntary delay his wages - and believes his players could follow suit - if the move helped Hearts survive.
He said: "It's not been mentioned yet. We are basically taking it a day at a time and seeing how things go.
"If it did come to that, it has happened recently anyway, and I don't see that being a massive problem to be honest.
"Certainly I would be in favour of delaying if that was going to help.
"I think the players would do anything that is going to help for the long-term benefit of the club."
He added: "It can't be easy on the players if they're finding out that possibly, after the game against St Mirren, they might not have a job.
"It's not easy and it's more critical than other situations when they've not been getting paid.
"But we are employees of the football club, everyone is under contract, and we have to be professional.
"At this minute in time, all the players are paid up to date.
"No-one is behind on any payments so we've got to give the football club time to get that money in and pay it and hope we can get through this and bring in as much money as possible."
Hearts are attempting to negotiate a payment plan with HMRC over the matter and have asked fans to buy tickets for forthcoming home matches and invest in a recently-launched share issue.
Those pleas were today repeated by the Jambos boss, who said: "There is a ?450,000 HMRC tax bill to be paid and the club is struggling to pay it.
"If we don't get that money in, in that period of time - which is obviously quite difficult - then possibly it could be curtains.
"You have to be realistic. The club understands it has to do this to get everyone to try to save the football club.
"There are many Hearts fans out there - and perhaps football fans as well - who might just go and buy a couple of tickets for the St Mirren game just to try to make sure that those 4,700 seats that we've got available can be taken up.
"That would certainly help at least in the short term."
On the prospect of administration, he added: "I've not had any discussions with the board. That's not really my brief to be honest.
"I'm really just concentrating on the Inverness game on Saturday.
"We've got a difficult game and we've been preparing the players this morning with a view to playing in that game and trying to win the game."
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