DUFF & PHELPS administrators could cut 11 players at Scottish football club Rangers.
Paul Clark and David Whitehouse, both partners at Duff & Phelps, were appointed to the club on 14 February.
However, the report claims that Clark and Whitehouse have offered two alternative options including; eight players taking redundancy and other players take a 50% wages cut; or all staff taking a 75% cut to their wages.
It is reported that the club needs about £10m to continue operating until the end of the season.
The administration follows a petition for the club’s winding up from HM Revenue & Customs following non-payment of about £9m in PAYE and VAT after its takeover in May 2011 by Craig Whyte.
HMRC are also involved in a long running tax tribunal with the club over how players were paid.
Rangers FC and the taxman are battling out a compensation case over the club’s use of Employee Benefit Trusts (EBTs).
HMRC claims it is owed £24m in unpaid PAYE due to the club using EBTs, which provide employees with non-repayable interest free loans.
Head of editorial Kevin Reed discusses this week's important accountancy news, including Brexit and audit market evolution
Phil Pierce and Ben Woolrych, partners at FRP Advisory, have sold out of administration the business and assets of Kiveton Park Steel Limited
The OECD's secretary-general José Ángel Gurría has given his verdict on what Brexit means for the UK and the EU
Public opinion is split over whether Brexit will harm or improve the UK accountancy sector