Bolton chairman Ken Anderson says all but one of the club's players have been paid their salaries - but that he will not be "blackmailed" over bonuses.
The Championship club's friendly at St Mirren on Saturday has been called off, with players claiming they have gone on strike over unpaid wages and bonuses.
Anderson said "bonuses and loyalty fees" were set to go out on Friday.
But, after an "ultimatum" by the squad to pay them, he said he would not "be threatened or blackmailed".
"Hopefully the players who chose not to play today will personally reimburse the supporters for their loss and inconvenience caused by their actions," added Anderson in a statement.
Bolton beat Nottingham Forest on the final day of last season to stay up.
The players, in a statement, had said: "Over the course of the two years, on numerous occasions contracted players have not been paid on time. This has culminated in certain players not receiving their June wage.
"On each occasion this has happened we have received no notification or an explanation as to why. We feel this is totally unacceptable after a huge effort from everybody over the last two seasons."
Bolton have had financial difficulties in recent years and had a winding-up petition against the club dismissed in February after they paid an outstanding debt to HM Revenue & Customs.
"It is misleading to say that they have not been paid on time, as for many months now, all the staff at the club have been paid on time, particularly since l have been the majority shareholder," said Anderson, who bought Dean Holdsworth's share in Bolton Wanderers in March 2017.
"I have never hidden the details of the financial crisis the club was in upon my arrival and the problems going forward.
"The support from the non-playing staff, supporters, suppliers and the football family has been unwavering and the reason why I continue to support financially from my family's wealth.
"It is very disappointing that those few individuals who have been handsomely rewarded for their services have chosen to take such an aggressive stance and tarnish the name of our club and caused such inconvenience to those who have supported them so unreservedly."