Murray has agreed in principal with players like Tore Andre Flo, Kevin Phillips and Thomas Sorensen to take a dramatic cut in wages to help keep Sunderland out of administartion.
"We are in talks with Sunderland and are trying to come up with a life-saving package," said Taylor on Sunday.
"The players have been very considerate in agreeing to defer a percentage of their wages in the hope that the club can solve its financial problems."