The Jaguares have released all of their top players because they can no longer afford their salaries due to the chaos caused by the coronavirus pandemic.
President of the Argentine Rugby Union Marcelo Rodriguez says the cancellation of the 2020 edition of Super Rugby in mid-March and the subsequent loss of TV, sponsorship and ticket revenue, meant there was no way to keep their best players in Argentina.
The Jaguares had effectively operated as a shadow Argentina squad since joining Super Rugby in 2016 and last year finished runners-up to the Crusaders.
Jaguares coach Gonzalo Quesada has already left to take over at Stade Francais and eight senior players, including the last two captains, Agustin Creevy and Jeronimo de la Fuente, have joined European clubs.