Rangers on Friday night appeared to be on the verge of an agreement to avert major redundancies after PFA Scotland chief executive Fraser Wishart revealed a deal was close to completion.
Sky Sports News understands the club's Ibrox-based staff have already been told they will not face any redundancies after some players stipulated that to be a clause in their agreement over pay cuts.
Negotiations continued at Rangers' Murray Park training centre on Friday and, shortly after 6.30pm, Wishart confirmed all players had agreed to vary the terms of their contracts for the next three months which could stave off any threat of liquidation.
He said: "Things are coming to a conclusion today.
"It's been a long week as you can imagine for our members and everyone connected with the club.
"Other than a few minor issues being tidied up, the players have agreed to alter the terms of their contracts and vary the terms of their contracts for the next three months in order to help the club through this difficult time."
When asked about the wage cuts, he added: "I'm not going to go into any details of exactly how much and how many, but what I would say is I think it's a huge gesture to the club and to the fans."
Administrators have announced a media conference will be held at Murray Park at 7pm.