ADVERTISING guru John Singleton has been approached by the Central Coast Mariners players to take over the club, as the financial crisis surrounding the club worsens.

Singleton has told the players he will do "whatever it takes" to secure the club's future, and will hold talks with owner Peter Turnbull about taking control of last season's grand finalists.

The Daily Telegraph has learned that the Mariners owe a tax bill of more than $1.5 million, and until last month were a year behind on their superannuation payments.

With some $200,000 owed on the super accounts, the PFA was forced to intercede on the players' behalf, and negotiated a payment schedule including interest. Although the first instalment was made in August, there is concern among some of the players that they will not be paid their wages this week.

Turnbull bought a controlling stake in the Mariners in 2007 and has ploughed millions into the club and to the related academy development at Tuggerah.

But a number of sources have confirmed to The Daily Telegraph that the club is in desperate financial straits, with some local businesses waiting months for bills to be settled.

CEO John McKay, who has been with the club since 2005, resigned on Friday in frustration at the club's mounting problems, and a source very close to the playing group contacted The Daily Telegraph last week to express their fear that the club could not exist in its current form for much longer: "The players and their families are very stressed. They have children in schools and mortgages to pay, and they keep being fobbed off with excuses," the source said.

"(Coach) Graham Arnold has done an amazing job shielding the players from all this and keeping their concentration on the football, but they're not stupid. That's why they spoke to 'Singo'."

FFA sources say they would be comfortable with Singleton taking control of the Mariners, but in truth it would get the governing body out of a hugely difficult position.

A-League head Lyall Gorman was executive chairman of the Mariners from its inception until August last year - and as The Daily Telegraph revealed in July - retains a substantial shareholding in Central Coast Mariners Developments Ltd, the company that owns 65 per cent of the Mariners, and the multi-million-dollar Tuggerah development. In addition the FFA itself retains a 5 per cent shareholding in the Mariners.

Singleton is an avowed rugby league fan but is equally immersed in the community of the Central Coast, and regards the Mariners as an essential part of that. Since the club was founded he has put in more than a million dollars.

FFA sources say Singleton would not want to hold the franchise for the long term but would do so until a new backer could be found.

Originally published as Central Coast Mariners' SOS to Singo