Dundee have sacked 20 players and staff after being placed in administration.
Among those who have had their contracts terminated are high-earners Fabrizio Ravanelli, Craig Burley, Fabian Caballero and Georgi Nemsadze.
Players and backroom staff were informed of the decision by manager Jim Duffy and director Jim Connor on Tuesday morning.
The step has been taken in an attempt to curb spiralling debts of about £20m, with the club currently losing in the region of £100,000 a week.
Financial consultants Ernst & Young were brought in on Monday to oversee the running of the club.
There are genuine fears in the football world that Dundee could go out of business, such is the state of their finances, although the club's owners, Jimmy and Peter Marr, insist administration is necessary to safeguard the future of the club.
But prospective director Giovanni di Stefano maintains the move is a disaster and is bidding to have the process halted.
Sacked staff
Kenny Cameron, Kevin Lee, Javier Artero, Paul Mathers, Craig Burley, Fabian Caballero, Juan Sara, Fabrizio Ravanelli, Beto Carranza, Mark Robertson, Barry Forbes, Jamie Langfield, Matt Engele, Kris Brash, Colin Boylan, Georgi Nemsadze, Vander Deyl, Gavin Beith, Tom Cowan
The lawyer wanted to buy the club for a nominal £1 fee and take over the club's debts, but the Marr brothers said they were not convinced the Italian had the funds to achieve this.
Di Stefano, who had previously promised up to £26m to Dundee, said: "Administration is not the answer but we have to take this one step at a time. | 
