Joe Mason is poised to complete a switch to Cardiff after seeing Plymouth accept a bid for his services.
An offer believed to be in the region of £250,000 has forced the cash-strapped Pilgrims' hand.
The 20-year-old striker is now in the process of completing a two-day medical with the Bluebirds and thrashing out personal terms.
Plymouth chairman Peter Ridsdale claims the club were left with little choice but to sanction a sale, with the board currently in the process of trying to balance the books.
"Regrettably, if we have players of value, we are using that to get from where we are now to getting the new company formed," Ridsdale told Herald Sport.
"This football club has not had any money to fund the administration process and ensure we make the last leap to getting the league share.
"We need to make sure we have cash for staff and to get new players in."
Republic of Ireland U21 international Mason has been on the books at Home Park since the age of 10, but feels the opportunity to turn out for a leading Championship club is too good to turn down.
Ridsdale added: "When I spoke to Joe, he made it absolutely clear he wanted to pursue this opportunity."