Newco Rangers chief executive Charles Green has revealed he will ask UEFA for help in reducing the club's debts.
The Ibrox club have been placed into Division Three for the upcoming season after their application for the Scottish Premier League was rejected, with Dundee invited to take the final spot in the top flight.
The club owes around £3million to European member clubs and Green has told Sky Sports News that he is going to hold a meeting with UEFA in Zurich to see if that figure can somehow be reduced.
"There are oldco debts to certain European clubs and it's not inconsiderable, it's about £3m," Green said.
"It's been accumulated as part of the historical baggage. They're oldco debts that newco has got to face up to.
"This is the frustration that we have had as a group where, at times we're newco so we have to sit in this particular box, however when it's convenient we're still oldco and we have to suffer the sins of the fathers.
"I want to say to these clubs and UEFA we're here for the long haul - we want to be honourable and we are people who face up to responsibilities - but we'd like some help in meeting these debts.
"We don't want them to be waived or expect them to be waived...(but) I'd like for clubs and UEFA to recognise these are not my debts. This is a gesture and (we'd like them) to work with us so we can amicably agree a settlement."
Green also revealed that before his Zurich meeting he is flying to Athens to try to organise a fund-raising friendly with Olympiakos.