The Glasgow giants were hit with a £160,000 fine and 12-month embargo on signing players aged over 17 after being found guilty of five charges in relation to their finances and the appointment of Craig Whyte as chairman.
In a statement released on Tuesday afternoon, administrators Duff and Phelps also stated they were not yet satisfied at this stage as to whether the sanctions are lawful, while Rangers manager Ally McCoist has claimed that sanctions imposed could "kill" the club.
David Whitehouse, joint administrator, said: "We have today written to the chief executive of the Scottish Football Association requesting an immediate expedited appeals process over the sanctions imposed on Rangers by the Association's judicial panel last night.
"The decision of last night's judicial panel is in our opinion quite extraordinary.
"Not only in our opinion do the panel fail to have properly apportioned culpability between the club and Craig Whyte, they appear to have rendered a penalty which could have a very detrimental effect on the ability of the administrators to achieve a sale of the business or a Company Voluntary Arrangement.
"This, in turn, cannot be in the interests of Rangers Football Club or Scottish football in general."
McCoist added: "Like everyone else involved - our team, our supporters, our staff and a lot of neutrals - I am staggered at the severity of the punishment. This decision could kill our football club, simple as that. Make no mistake about it. This panel is not totally to blame for the death of our football club, if it happens, but this particular decision could kill our football club.
"You would hope there would be sympathetic ears within the SFA over an appeals process but you just don't know what is coming next. It is complete and utter guesswork."
But the SFA have stressed they need to implement rules "without fear or favour" following a backlash from Rangers fans and administrators over sanctions against the club.
In a statement, chief executive Stewart Regan said: "I can fully understand the fear and frustration felt by all Rangers fans throughout the most difficult period in the club's history.
"The Scottish FA has a responsibility to all its members and must implement its rules without fear or favour."
Regan added: "It is important the Scottish FA, as the governing body, works in association with the Scottish Premier League and Scottish Football League to reinvigorate the national sport.
"Rangers have been part of the fabric of Scottish football's history and are integral to its future prosperity. The Scottish FA must act with integrity and with the best interests of the game at heart. It is with this in mind that we await any appeal from the club."