Dundee director George Knight stated today that he is adamant the club will still have a future if it goes into administration.
Dundee FC must pay an Inland Revenue bill of £365,000, raising fears administrators may be appointed, as happened seven years ago,much to the dismay of the dens park faithful.
Speaking to Bbc Scotland. Knight said: "I've been involved here since the dark days of 2003, and we've not come through what we've come through to see that undone."
The Dens Park directors say the club's future will be clearer within 48 hours.
The board met at lunchtime on Monday and emerged to say that they are continuing to explore all avenues and are asking for patience from the fans.
Director Knight told BBC Scotland: "Discussions are ongoing. As soon as we are in a position to make a statement, we will do so."
Major investor Calum Melville recently tendered his resignation to the board as he tackles personal business problems.
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That led to negotiations between the club and the director, resulting in Aberdeen-based Melville saying he would remain on the board if still wanted and that he would continue to back the club financially.
It is believed that the club are trying to raise the money to satisfy HM Revenue and Customs (HMRC) and that a leading figure in the insolvency world is currently negotiating with them on the club's behalf.
But room for manoeuvre is limited. A senior Dens Park source told BBC Scotland on Sunday: "HM Revenue & Customs (HMRC) are looking for the payment immediately.
"And they are being completely inflexible, with no room for negotiation at all."
Melville told the notw "I feel we are being treated differently from other clubs and I would have thought HMRC has a duty to treat everyone in the same fashion.
"The words used were that they 'wanted to bring Dundee to account and bring the rest of Scottish football to heel'.
"Dundee FC are in a hole with HMRC. We've been running in arrears with them for 19 months and they are now demanding full payment for the outstanding amount, which is something around £250,000.
"We have offered £100,000, which has been rejected. I have also offered to pay the full amount in May next year and that has also been rejected.
"There is no question that the club is being used as an example and it has put us in a really difficult place.
"My feeling is that HMRC will write to us in the next week and tell us what their intentions are. There is a very distinct possibility of administration."
Meanwhile, Dundee's problems on the field of play deepened on Saturday with a 2-1 defeat away to Cowdenbeath.
Gordon Chisholm's side sit seventh in Division One, 10 points behind leaders Dunfermline Athletic
A very worrying situation for everyone connected with Dundee FC.