The Ibrox club are preparing themselves for various eventualities after the Court of Session ruled that the SFA's appellate tribunal exceeded its power by imposing a year-long transfer embargo on the club.
That was welcomed as a victory by Rangers, but it may come at a heavy price if the punishment is extended.
If the tribunal, under Lord Carloway, decides to increase the punishment one of the sanctions available to it is to suspend Rangers' SFA membership and prevent it from playing matches anywhere, perhaps for a year.
The SFA tribunal is still considering its position after the legal ruling by Lord Glennie at the Court of Session but the sanctions it can impose on the club are now very narrowly defined. Either the club can be fined £100,000, expelled from the Scottish Cup, or its SFA membership can be suspended or terminated entirely.
Green is understood to believe that Gers and his consortium of potential owners could endure a year without football, but that expulsion for a season would have a ruinous effect on other clubs in Scottish football because of the impact on broadcasting income and gate receipts.
It remains to be seen if the SFA will raise a separate charge of bringing the game into disrepute against Rangers, simply for challenging the governing body in an ordinary court, which contravenes Fifa statutes.
Fifa, the world's governing body, has warned it is monitoring the situation between the SFA and Rangers and will expect the governing body to act.
Green said today on the war with the SFA: "I want talks with Stewart Regan to find a way out of this for the good of Scottish football.
"There is a balancing act here. We accept Rangers should be punished for sins of the past. I am not disputing that, the SFA have an obligation to do that.
"But I have to stress that the fans of Rangers, administrators and myself feel the initial penalty given to the club was too harsh.
"Now there has to be a solution and a way out that doesn't cause carnage for the game in Scotland."
It is believed the administators Duff & Phelps felt they had no option but to go to the Court of Session because the Court of Arbitration of Sport in Lausanne route was unavailable in the SFA's regulations.
They have also looked at taking the issue to the European Court in Brussels, an option they may still take should things take a turn for the worse.
On the prospect of the SFA booting Rangers out of football because of their course of action, Green went on: "There has been talk that if the SFA appeal to Lord Carloway who rubber-stamped the original decision, then Rangers could be booted out of football for 12 months — or even for good.
"If everyone steps back from the understandable emotions of this for a second, I can't believe anyone who loves the game in Scotland wants that.
"I want to speak with Stewart Regan to try and find the right path for Rangers and the game as a whole in this country.