Charles Green's Rangers newco, who were denied admission to the SPL, will discover on Friday whether they will be playing in the First Division or Third Division next season.
Around half of the SFL clubs who have made their views known are looking for Ally McCoist's side to go into the Third Division, despite Scottish Football Association chief executive Stewart Regan warning of the "slow, lingering death'' of the game if the Govan club were not voted into the second tier.
SFL chief executive David Longmuir has spent this week negotiating a package of reforms, including play-offs and a change in the share of monies and voting rights, with the SFA and the SPL, which he hopes will persuade his member clubs to allow the new Rangers to start again in the First Division.
After an SFL board meeting at Hampden on Wednesday, where the proposals were discussed before being sent out to the SFL clubs for consideration, a statement was released which read:
"The Scottish FA, the Scottish Premier League and the Scottish Football League have, for the past two years, been involved in a series of discussions at board level with the objective of securing radical and co-ordinated reconstruction of the game in this country.
"Today, we are asking clubs to consider a package of reforms which have the potential to rejuvenate Scottish football at senior level and safeguard its future at a time when uncertainty and fear prevail.
"A working party will be formed, including three representatives from both the SPL and SFL, to devise a new structure for the senior professional game in Scotland. This group will have an independent chairman appointed by the Scottish FA."
It continued: "In the event that a final decision is not reached by 30th November, 2012, the Scottish FA will seek to implement a new structure in time for the 2013/2014 season.
"The members of the working party, including chairman, will be announced in the near future and will ensure consultation with all stakeholders prior to final recommendations being made."