THE league future of Rangers could be finally decided on Friday, says the Scottish Football League's chief executive.
David Longmuir says he hopes to see a resolution to the problem of the club's new company that will "be for the betterment" of the game.
The relaunched Ibrox club will discover at the end of the week whether it will be playing in the First or Third Division next season.
The vast majority of Ibrox fans favour a fresh start in the bottom tier after last week's failed bid to remain in the Scottish Premier League.
However, the First Division looks the likely destination after Scottish Football Association chief executive Stewart Regan claimed dire financial consequences meant he could not allow Ally McCoist's side to resume life in Division Three.
All 30 SFL clubs will meet at Hampden on Friday, when Mr Longmuir will find out their response to a letter he sent to them at the weekend.
The two main points of the letter are the clubs should first vote on whether or not to accept the newco Rangers into the SFL and, then, whether they are in favour of allowing the SFL Board (rather than the clubs) to choose which division they will compete in.
The second vote will hinge on the SFL gaining certain concessions from the SPL about play-offs and a fairer distribution of income.
Mr Longmuir said he expected to meet Mr Regan and Neil Doncaster, the chief executive of the Scottish Premier League, over the next few days.
Mr Longmuir said: "Friday is a very important day for Scottish football, I will let others judge just how important.
"I expect to have meetings with the SFA and the SPL this week.
"We hope to achieve an agreement which will be for the betterment of the game in Scotland."
However, ex-Rangers' striker John MacDonald is baffled by the whole situation and claims the Ibrox club have been subject to a "witch hunt".
MacDonald, who played in the late 1970s and 80s, said: "Are there any rules or are they making them up as they go along? Any notions or talk of sporting integrity has gone right out of the window.
"Rangers really should start in the Third Division and most fans want that so there will be no comeback in years to come.
"But Stewart Regan has held a gun to the head of the SFL clubs by more or less saying they have to vote Rangers into the First Division.
"So it looks like the club will be in the First."