The club has promised that a third of the money owed will be paid within days - but that may not be enough to satisfy league bosses and the Ice Hockey Players’ Association (IHPA) has offered to let the club pay in instalments.
The owners of the club, European Sports Holding, has been involved in a long-running dispute over the non-payment of almost £150,000 ($217,000/B240,000) to members of last season's squad.
The Jesters have been banned from signing any players until the row is settled. That has meant that two months into the season the club has yet to play a single game.
"Final paperwork is being drawn up, with guarantees from investors in the franchise," said the finance director of European Sports Holdings, Jonathan Stobart.
"We hope that the ISL gives us a few more days to resolve this matter because it is difficult to convince investors when there is still so much uncertainty surrounding ice hockey, particularly in the area of sponsorship. However, while this has caused a degree of nervousness for new investors, there is no question at this stage of these new investors withdrawing. Consequently, with the first agreed instalment due within days, we fully expect the Newcastle Jesters to commence playing in early November."
