Sky Sports sources understand that Gregg Wylde and Mervan Celik are the first players to leave Rangers after they entered administration.
The Gers administrators have been locked in talks with the playing squad as they look to try and find savings of £1million a month.
However, talks broke up with no agreement with the players and now the first batch of departures is set to be confirmed, and Sky Sports understands that five players in total have asked to be released.
The exit of 20-year-old winger Wylde will come as a huge shock as he was regarded as one of the club's brightest prospects and most saleable assets.
The Scottish Under-21 international has played nearly 50 first-team games for the club and only signed a new five-year deal last August.
Wylde is quoted by STV as saying: "I couldn't sleep at night" and he took the decision to leave in the hope it will "save other people's jobs" at the club.
And following Wylde out is Swedish Under-21 forward Celik - who only joined the club from GAIS in January.
He has only played in three games for the club, but he is now already looking for a new club.
"Football wise, it has been good, he's got a lot of playing time in the club and coach Ally McCoist wants to keep him. But that's not acceptable to a wage cut of 75 per cent," his agent Hasan Cetinkaya told Expressen.