Negotiations are set to continue after the Bulls squad offered to defer part of their wages after rejecting an outright pay-cut.

Francis Cummins’ players were asked by the club to take a ten per cent cut in wages following the news that savings of up to £400,000 must be made.

That proposal was turned down but the players instead suggested that the club could defer paying ten per cent of their wages until later in the year.

No deal has yet been struck after the proposal was deemed unfeasible by the club.

Bulls chief executive Robbie Hunter-Paul said: “The wage-cut proposal related not only to the players but all heads of department across the business and it was a case of ‘one in or none in’.

“In terms of the wage deferment, it was measured to be not feasible due to not knowing our position at the end of next year.

"Too often in the past, poor decisions have been made on the back of poor forecasting based on inaccurate analysis. With deferment, you run the risk of ending up in the same situation as this year.”

Ernie Benbow, of players union League 13, met with the Bulls players and club hierarchy on Tuesday.

He said: “We will continue to examine every proposal from the club provided that we receive proper and appropriate information.

"We are basically working on word of mouth and need to see information in writing before making an informed decision.”