A bid to reduce the wage bill at Rangers has been rejected by the players, who are refusing to take a pay cut.
The Rangers squad was asked on Thursday to consider pay cuts of around 15% until summer 2015 as cost-cutting begins in earnest at Ibrox.
The request, put to the players as a possible alternative to some having to be sold, was widely rejected.
Manager Ally McCoist was told by chief executive Graham Wallace earlier this week he needs to cut his budget.
The players' wage bill at the League One side currently stands between £6m and £7m per annum.
A club spokesman told BBC Scotland: "We have a clear and consistent message, namely that we continue to look at all opportunities and review of player costs is a major part of the review.
"The manager and Graham Wallace continue to work closely and Ally knows the magnitude of the challenge and is engaging to help us achieve our financial goals."
McCoist last week agreed to reduce his wages by half in a bid to cut costs.