Rangers players have started signing documents that will see them take broad wage cuts in a bid to stave off significant redundancies.
The players have agreed to substantial pay decreases to avoid administrators Duff and Phelps making significant redundancies. The administrators are targeting savings of up to £1m a month.
Staff at Ibrox also said there will be no redundancies at Ibrox stadium.
Rangers players arrived at the Murray Park training ground on Friday to thrash out deals, many thought to include causes enabling them to leave for a lower fee than what would have otherwise been accepted. Steven Naimsith and Steven Whittaker were the first players to accept 75 per cent fringes.
The agreement was believed to be essential in enabling the Teddy Blues to complete their campaign.
Gregg Wylde and Mervan Celik became the first players to be made redundant by Duff and Phelps earlier this week.
Yesterday the Scottish Football Association's two-week inquiry concluded that Rangers owner Craig Whyte was not "fit and proper" to hold a role at a football club.
He owes the club £9m he contractually promised when he took over in May 2011, and lawyers acting for the administrators have gained a court order to seize a preliminary £3.6m from Whyte's solicitors Collyer Bristow.
The Scottish champions look unlikely to meet the March 31 deadline to secure a license to take part in European competition next season.
Rangers legends Walter Smith, Sandy Jardine and manager Ally McCoist will launch a fund at Ibrox on Saturday at noon.