The financial crisis at the Ismailia-based club made it impossible for the board to pay late wages in full for all players.

"The players informed us with their decision, but they have to know that we are still out of funds, even after the sale of Sayed Moawad," general manager Abdul-Rahman Annoos told FilGoal.com.

Ismaili loaned out international full-back Moawad to Trabzonspor for $150,000, as the Turkish side have an option to sign him permanently for $900,000 in June.

Ismaili's financial state forced former chairman Yehia Al-Koumi, who was personally responsible for funding, to step down from his position recently.