Manager Ally McCoist has taken encouragement from Scottish Premier League chief executive Neil Doncaster's comments indicating he would not be opposed to a newco Rangers joining the top-flight.
Doncaster believes there is little difference between a newco route from administration and a Company Voluntary Arrangement (CVA), with the current rules stating that the SPL board has the discretion over how to deal with the request for the transfer of a club's shares.
Asked for his thoughts on Doncaster's remarks, McCoist said: "I would have to be heartened and very encouraged. It's a really tricky and delicate situation because there will be teams who feel we should be punished if it's a newco and we stay in the SPL. I can totally understand that as well. We have to balance things up."
He continued: "Is it worthwhile us staying in the SPL and making us non-competitive or is it more beneficial to our football club going down to the Third Division and building again? That's a very tough decision and one that I couldn't give you an opinion on right now. But it's certainly something we will have to think about."
When asked if the overall health of Scottish football is more important than one club, McCoist made it clear that Rangers must remain his top priority. He said: "I appreciate the delicacy of the situation but I'm interested in Rangers Football Club primarily.
"Scottish football is a far bigger issue and I totally understand the circumstances surrounding the whole thing and I appreciate how delicate the whole thing is. But at this moment in time, I have to look after and do what's right for Rangers Football Club."
McCoist said earlier on Tuesday that his understanding is that both bids on the table for Rangers - from Brian Kennedy/Blue Knights and American tycoon Bill Miller - are likely to involve a newco situation but does not believe such a scenario would mean liquidation.
However, a subsequent statement from Kennedy's group stressed that exiting administration via a CVA remains one of the main conditions of their offer.
McCoist is unsure whether the delay in reaching a decision over the financial fair play proposals will benefit Rangers or not, with administrators hoping to name a preferred bidder this week.
He said: "Some people will be happy and some people won't be happy but I can understand the decision. Neil Doncaster and the rest of the SPL have made a decision which they feel is best for the SPL, which I totally respect. I genuinely don't know if it's hindered or helped the bidding process at all."