Hasselbaink joined Cardiff in the summer of 2007 on a free transfer
Professional Footballers' Association chief executive Gordon Taylor hopes Jimmy Floyd Hasselbaink's dispute with Cardiff City will not go to court.
Taylor met Hasselbaink, Cardiff boss Dave Jones and chairman Peter Ridsdale to try to sort the contract wrangle.
Hasselbaink, 36, was released at the end of last season despite claims an appearance-based clause in his contract entitled him to a one-year extension.
"We will get things sorted," Taylor told BBC Wales.
He added: "I think it's probably untenable that Jimmy can return to the club."
Hasselbaink scored nine goals in 44 games for Cardiff in his first season.
He claims a clause in his contract said he only needed to play 23 times to earn himself a new deal with Cardiff, but the club has maintained this was waived verbally.
The Dutchman called in the PFA after he was turned away from Cardiff's pre-season training earlier this month.
But he said after Wednesday's meeting in Manchester: "We have to wait until we can resolve this. It looks like it will go to court."
Cardiff are refusing to comment.
Taylor added: "We had seven or eight hours of exhaustive talks with a view to avoid taking the dispute to either the Football League or the High Court.
"We don't want that. I can see some daylight at the end of the tunnel.
"The next step is to try and come together having assessed the situation and let Jimmy move on.
"We shall see if we can sort it out. If that means financially, then that's the way it will have to be.
"We want Jimmy to be able to get on with his career and Cardiff can get on with their season."
Hasselbaink admitted he would have "loved" another season at Cardiff.
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