Barnsley have confirmed Mark Robins is still their manager is until he has decided whether he can work under new financial conditions proposed by the board, which include a lower budget for loan players, a change to recruitment and a restructure of the club.
"The Barnsley FC board has decided in principle that it supports the Football League in its efforts to require clubs to break even," a club statement read.
"Mark Robins attended the board meeting last week to discuss ideas for our club to break even going forward.
"His response to the proposals was that he needed time to consider the implications of the approach and whether he could work with it.
"The club felt it was necessary to mitigate its position by invoking the clause in his contract fixing the amount of compensation due to be paid should Mark leave, which appeared most likely from the discussion."
The former boss manager has since been linked with rivals Sheffield United, but the Tykes are keen to retain the services of the 41-year-old.
"We are aware of the speculation in the media regarding Robins being on shortlists for other clubs," the statement continued.
"But to date out club has not been approached.
"We are happy with Mark Robins as our manager and hope he will decide to stay and help is implement the changes needed to move our club forward on the playing field."