The Senators are swamped by a debt estimated at around $360m with players missing their team payroll last week.
The team's situation was sent into critical when the Senators' majority owner Rod Bryden was to have sold out to a limited partnership for the sum of $118.7m - a figure that would have substantially aided the financially stricken franchise.
However, in a statement released by the NHLPA at the weekend, union executive director Bob Goodenow said players were prepared to wait to see what financing plan was going to be put on the table.
Said Goodenow: "At present, all parties are focused working to resolve the short-term issues so the club can pay their ongoing operating expense."
A short-term financing package is expected to be presented next week.
