Ally McCoist believes making a scapegoat of Rangers could be detrimental to the long-term future of other Scottish Premier League clubs.
The Gers' financial troubles are well-documented, as they sit in administration, and there is a very real threat that the Old Firm giants could be forced down to the Third Division.
The 12 clubs that make up the top flight are due to meet on Monday to discuss financial fair play proposals that could mean tougher sanctions for insolvent clubs.
If passed, the new rules would mean any club who has undergone an 'insolvency transfer event' would be docked 10 points for two seasons and see their league income slashed by 75 per cent for three years, as of next season.
Preferred bidder Bill Miller's plan if he gains control of Rangers is to create an 'incubator' company while Duff and Phelps aim to take the club out of administration via a CVA.
His 'newco' plans would have to be in place by the end of this season to avoid any new SPL rules, otherwise sanctions would be at the discretion of the SPL board.
And speaking after Saturday's goalless draw against Motherwell, McCoist said: "I just hope it's a favourable result for us on Monday.
"I can understand that the SPL and the SFA have got big decisions to make and they won't please everybody."
Rangers have also been hit with a 12-month embargo on signing players over the age of 17 by the Scottish Football Association, which is subject to appeal by the Glasgow outfit.
McCoist added: "I just spoke to a radio reporter there and he said the phone-lines on the radio station have been jammed with non-Rangers supporters saying we should go down to Division Three and all that kind of stuff.
"I can understand that but it's not just as simple as that because I do believe there would be a threat to the livelihood of maybe some other clubs in the SPL if that were to happen.
"That's not something I would say lightly but in terms of the finance of Scottish football - sponsors and television money and things like that - it's a massive issue.
"The right thing to do might be the wrong thing in the long run. It's a big problem."