Charles Green has revealed he may be forced to accept the transfer ban handed to Rangers by the Scottish Football Association in order to secure the Ibrox club's membership of the governing body.
On Monday night, the Scottish Premier League and the SFA vowed to back the Scottish Football League's decision to put the Ibrox club in the Third Division.
Rangers are due to be re-launched in the Ramsden's Cup first round against Brechin at Glebe Park on July 28 but Green will need to come to an agreement with the SFA beforehand and talks will continue on Tuesday.
Rangers successfully overturned the 12-month transfer embargo in the Court of Session before Green's Sevco Scotland bought their assets when they were consigned to liquidation.
But the alternative punishment, sparked by their failure to pay millions of pounds of tax last season, could be suspension or termination of membership if the case reverts to an appeals panel.
SFA chief executive Stewart Regan wanted to put the new Rangers in the First Division with the transfer ban, a £160,000 fine and a stipulation to pay the original Rangers' transfer debts of around £3 million.
Regan has predicted "social unrest'' if there is no football played at Ibrox next season but Green hinted he might have to accept the sanctions to make that possible.
Ibrox manager Ally McCoist has lost a full team of players who refused to transfer to the new company and Green tonight revealed that Dorin Goian, Carlos Bocanegra and Maurice Edu would follow them.
Green, who represented Rangers at Monday's SPL annual general meeting along with McCoist, told Sky Sports News: "I gave a verbal agreement to transfer the oldco share across to Dundee and we've now got verbal agreements with both the football league to admit us into Division Three and on issues outstanding with the SPL.
"The real key now for Rangers fans are the issues outstanding with the SFA - most of the agenda items that have been talked about for weeks and weeks: the transfer embargo, fines that were put out there, and payments to football clubs that had happened for previous transfers.
"It is now for newco to take on board the sins of oldco to clear a way forward. Many fans have spoken to me and said how unfair it is.
"At one meeting today it was explained that being demoted to the Third Division is not a punishment. I'm not very bright but I struggle with that one, to see that leaving the SPL and ending up in the Third Division is anything but a punishment.
"The difficulty we have is we've been working for many, many weeks now on these issues and there is a point where unless I as CEO accept sanctions then we won't be granted permission to join the SFA.
"But it's a balance between what's fair and what's required. The problems this club created - and no-one is walking away from that - by previous owners have now been laid bare, sanctions been taken, the manager and all board members and employees have had to deal with that.
"I addressed the staff today because there will be job losses and the implications are huge. We need to draw this matter to an end now. We need the SFA to agree membership for us now so we can all rebuild and get on with our lives.''