SPL chief executive Neil Doncaster has raised the possibility of a deferral on today's vote on the future of the Rangers newco.
The chairmen of the 12 SPL clubs meet at Hampden Park to discuss the new company's application to join the league following Charles Green's recent buy-out.
Motherwell became the eighth club to publicly declare their intention to vote against the proposal on Tuesday leaving Charles Green's newco facing demotion to the Scottish Football League.
But Doncaster told Sky Sports News it was no certainty the issue would be decided on Wednesday with the new season just three weeks away.
"It's important that clubs don't close off any options while a First Division second-tier option remains in play," he said. "It may be thought that the best thing to do is to defer.
"That will be a judgement for the clubs today. They've got the best interests of their club to think about and the best interests of the game as a whole.
"The option a lot of people have talked about with Rangers at the bottom of the pyramid in division three would ultimately wreak huge financial damage on the whole of the game in Scotland.
"It's difficult to see why 41 innocent clubs should pay the price for the misdemeanours of one."