The administration plunged into crisis last month after sports minister Jeevan Kumaratunga suspended the official recognition of Sri Lanka Cricket and named an interim committee to govern the game.
However, Sri Lanka's Court of Appeal two weeks ago prevented the minister from dismissing office bearers of the island's richest sports governing body.
"The foremost issue concerning the players is their individual contracts," the Sunday Times newspaper said. "However, the players are worried about the validity of contracts with the interim committee."
Players were not immediately available for comment.
However, sources said they were expected to discuss the matter with elected office bearers of the cricket board before a final decision on new contracts is taken next week.
Sri Lanka Cricket President Thilanga Sumathipala maintained that the minister's action meant they could not function as an officially recognised national body, but it had no implication on the membership of the International Cricket Council.
The cricket board is incorporated here as a private company, but is also registered with the sports ministry so that it can represent the country at international events.
Sports minister Kumaratunga sacked Sri Lanka Cricket's governing body amid allegations of financial irregularities and appointed an interim committee to oversee the game.
No formal charges have been brought against Sri Lanka Cricket management.