Richard Clarke and Andy Waterworth offered to take a pay cut
Glentoran players and officials will hold a meeting after Thursday's Europa League qualifier against FC Reykjavick to discuss unpaid wages.
BBC Sport understands full-time players have not been paid for five weeks while part-timers are missing a week's pay.
Glens vice-chairman Stafford Reynolds said the club has cash-flow problems but added that staff will be paid.
Glentoran are 3-0 down going into the second leg while Portadown visit Skonto Riga after a 1-1 draw at Shamrock Park.
Reynolds said that the club always pays its debts and money difficulties before the start of the season were not unusual.
Cash savings were a factor in the decision to place five top players on the transfer list in May.
Gary Hamilton, Daryl Fordyce and Shane McCabe remain on the list but Andy Waterworth and Richard Clarke are staying at the Oval after they approached the club to take a pay cut.
Michael Halliday, Kyle Neill and Dean Fitzgerald were released after they were not offered new contracts.
Keith Gillespie left Glentoran last month after the former Northern Ireland winger and the club failed to agree terms on a new deal.
The 35-year-old departed the Oval despite indicating that he was prepared to take a pay cut at the cash-strapped club.
The Glens face an uphill struggle against their Icelandic visitors in a game which starts at 1930 BST.
There is a 1700 start as Portadown, who will be without the suspended Chris Ramsey, take on Skonto Riga in Latvia.
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