First division football club Veendam hovered on the brink of collapse on Friday after judges granted a club request not to declare it bankrupt just yet.
Veendam officials are pinning their hopes on local entrepreneurs to raise the necessary cash to bail out the club, news agency ANP reports.
According to RTV Noord, the club still has debts of some €150,000, meaning €200,000 has already been raised this week.
Veendam FC was founded in 1894, making it one of the oldest Dutch clubs.
First division side Haarlem was declared bankrupt earlier this year.
Earlier this week a football association commission said urgent steps need to be taken to stop a number of professional football clubs going bankrupt.
Last year, the clubs lost tens of millions of euros, thanks to the recession and downturn in sponsorship. Clubs also raised less money from transfers and tv rights.