Rangers' administrators have reassured fans the Scottish Premier League champions will 'continue as a football club'.
Duff and Phelps, the club's administrators, were appointed on Tuesday after Her Majesty's Revenue and Customs (HMRC) forced the issue in the Court of Session in a bid to secure payment of £9million in PAYE and VAT, accrued since Craig Whyte took control in May last year.
There have been serious concerns among fans the famous Ibrox club could fold, an issue the administrators have now moved quickly to address.
Gers' administrators also hope to reach a stage "as soon as possible" where the club can emerge from administration, a move that has seen the club deducted 10 points.
Saturday's SPL game against Kilmarnock at Ibrox will go ahead as planned, while the administrators expect to hold meetings with the club's staff at least on a weekly basis throughout the process.
Joint administrators Paul Clark and David Whitehouse said: "We can report we have made very good progress within the first 24 hours of being appointed administrators over Rangers Football Club.
"Our first priority has been to ensure that the football club continues to function and this is being achieved with the help of staff, players and management at the club.
"In particular, we would like to thank the club's business partners who are going the extra mile to ensure that Saturday's home match against Kilmarnock goes ahead as scheduled.
"We had extremely constructive discussions with Strathclyde Police and we can confirm the match will take place.
"We fully recognise this is a difficult time for players and staff at the club and are extremely appreciative of their reaction to the situation.
"We will be holding meetings with the staff on a weekly basis at least to inform them of developments.
"We are also in the process of speaking to representatives of supporters' groups and that will be an ongoing process.
"In broad terms, supporters can be reassured that Rangers will continue as a football club and we hope to reach a stage as soon as possible where the club can emerge from administration.
"We have had expressions of support across the political spectrum in Scotland within the last 24 hours and there is clearly a desire to see Rangers come through this situation successfully.
"There had been widespread publicity and speculation regarding the financial affairs of the football club.
"For clarity, the cost structure of the club and ongoing losses were such that the club had outstanding liabilities to HMRC.
"These were the subject of discussion and clearly HMRC wished to see them resolved as a matter of urgency.
"We are involved in dialogue with HMRC and will work with them constructively, as is the case with all other key stakeholders."