Fifa have warned the Argentine FA it must sanction midfielder Hugo Roberto Colace's move from Newell Old Boys to Barnsley by Thursday.
The Tykes could receive compensation from Fifa if the move fails.
Club general manager Don Rowing told BBC Radio Sheffield: "The [Fifa]committee do have that option to award compensation if they so wish."
Barnsley agreed a deal to bring Colace to Oakwell in July and the 24-year-old has been training with them since.
But Rowing says Colace's future is in the hands of the Argentine authority: "We really need the Argentine FA to make some response to Fifa in order to progress [the transfer] further."
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