Rangers players have rejected the Ibrox club's proposal of an across the board 15% wage cut.
Manager Ally McCoist had been told that he would have to make cuts to his playing budget.
McCoist has been in discussions with Graham Wallace as the chief executive undertakes a comprehensive review of the Ibrox finances.
The players' wage bill at the League One side currently stands between £6m and £7m per annum.
And consultant Philip Nash has been brought to Ibrox to help oversee the financial overhaul.