Paraffin - Yes, basically 8 of our players tore up their contracts - saving the club as a result. A huge sacrifice on their behalf and something which would probably not happen these days.
That was January 1982, our first game after this was at home against Fulham, our manager then... Roy Hodgson!
We played the youngsters for the rest of the season and as expected were relegated, again - resulting in division 4 football the next season.
Going back to the original question I have a feeling it could of been Charlton Athletic - although a lot of clubs were in financial difficulties then.