Administrators met the staff and players of Rangers Football Club on Thursday and claimed there will be no immediate cuts to staff or the playing squad at Rangers.
The first redundancies as a result of the administration process at the Glasgow club are not expected to take place until next week after a review of staffing levels.
Paul Clark and David Whitehouse from insolvency experts Duff and Phelps, who were appointed to take charge of the club’s finances on Tuesday, met manager Ally McCoist at Ibrox on Thursday morning, before talking to the players at the training ground Murray Park.
On Thursday afternoon, the administrators are scheduled to hold a press conference where they will talk about the progress they have made so far since being brought in to Rangers.
A spokesman for Duff and Phelps said: “The administrators will talk through the actual process with the manager and the playing staff..
“There will be no immediate cuts to the staff or playing staff, as a review of all employees will take place in due course.”
Mr Clark and Mr Whitehouse took over the running of the club after a dramatic attempt by HM Revenue and Customs to get a court-appointed insolvency expert in at Ibrox. The late legal move by the tax authority came as Rangers had not paid £9m in PAYE and VAT since Craig Whyte took over the club last May.
Currently the club is also awaiting the result of a crucial tax case against HMRC, which Mr Whyte has claimed could leave them with a bill of up to £75m.
On Wednesday, the administrators returned to Ibrox where they began looking into the club’s current financial position, with a view to making significant savings to pay off creditors.
Craig Whyte flew to London overnight on Tuesday, his representatives have claimed he will return to Rangers soon, while it is not yet known whether he will attend Saturday’s game between Rangers and Ibrox.
The administrators are likely to cut costs wherever possible and that could see some players told that they are leaving the club in order to reduce the wage bill. A statement from Duff and Phelps on Wednesday evening stressed that they were confident that Rangers would continue as a football club “in broad terms”.
Meanwhile, Rangers official kit seller JJB joined their other sponsors by coming out in support of the troubled club.
Keith Jones, chief executive of JJB Sports, said: “JJB is extremely proud of its longstanding relationship with Rangers FC and we will continue to work with the club through this process.
“We were saddened to hear of the news that the Rangers FC had entered administration, however the club has our full support and we are in constant dialogue with them during this difficult time. We are committed to working with the club, the fans and the administrators to achieve a successful outcome to secure the club’s future”
In 2006 JJB Sports paid the club £18m to become the official kit seller, replacing Rangers stores across the country.
Ali Russell, chief operating officer at Rangers, said: “I would like to thank JJB Sports for demonstrating its support and commitment to Rangers during this difficult time for the club. We are working with the administrators to resolve the current situation and appreciate the professionalism in the way our partners are handling current events.”