Bray Wanderers chairman Denis O'Connor has stated his belief that running a club in the Wicklow town is not financially viable.
The PFAI revealed yesterday on social media that the club's players had been told there is only enough money "to cover next week" and that they were free to speak to other clubs about leaving.
That news emerged just four days after winger Dylan Connolly sealed a move to the SSE Airtricity League Premier Division champions Dundalk for a fee that could rise to €40,000.
O'Connor spoke for the first time about the current situation on tonight's episode of Soccer Republic on RTE.
Reporter Tony O'Donoghue put it to the Bray chairman, "So are you basically saying that running a club from here [Bray town] in the Premier Division of the League of Ireland is not a viable option for you financially?"
"As far as I'm concerned today, it's not," replied O'Connor who pointed to Harry Kenny's "stunning" job in the second half of last season as the reason why the club decided to invest hugely ahead of the new season.
Backed by investor Gerry Mulvey, the club made several big-name signings in the hope that they could make a move up the league while also attracting bigger crowds and more gate receipts.
"Maybe it's a false premise [but] the premise was, we'll work with Harry, we'll get a good squad together, we'll go for the top half of the table.
"Our ambition was, not Europe, just get one better than last year. We assumed that the people would follow that success.
"Like, the population is there and the population is there in county Wicklow and there's a big population in south Dublin that historically used to follow Bray Wanderers. So I can't work it out."
O'Connor also expressed his belief that Bray are not the only club wondering if it is feasible to continue in the Premier Division, due to poor attendances or lack of sponsorship but he also feels the FAI need to do more.
"There is no financial support at the moment flowing into the League of Ireland clubs and if you stand back again and put your business hat on, you can actually understand that to an extent.
"But I think it would be good if the FAI came out and explained to the clubs, where there's some financial window of opportunity for the clubs.
"But in other jurisdictions in Europe, under the UEFA branch, most of them get bigger financial support. But then maybe they don't have the debt of the [Aviva] stadium."
O'Connor did little to allay the fears of the club's supporters by saying he could not give any assurances regarding Bray's future but he did call on them to tell the top brass what they want or are prepared to do to help the club.
The FAI released their own statement as well tonight to say they have spoken to the club and have asked for clarification on the current situation.