Rangers newco have moved to within three days of their Ramsdens Cup tie with Brechin still waiting on membership of the Scottish Football Association.
Talks between the Scottish Premier League and Ibrox chief executive Charles Green, which are crucial to the Ibrox club's bid to become part of the SFA, will continue on Thursday.
Press Association Sport understands that progress has been made and broad agreement has been reached but the fundamental issue of the Govan club being possibly stripped of titles remains unresolved. Ally McCoist's side are due to start their season at Glebe Park on Sunday.
But before that happens, agreement between five parties - old Rangers, new Rangers, the SFA, SPL and Scottish Football League - is required for the relaunched club to inherit old Rangers' SFA membership.
The SFL clubs voted to put Rangers in Division Three after Green's attempts to replace the old club in the SPL and First Division were unsuccessful.
The main sticking point to SFA membership is the issue of dual contracts which Rangers are alleged to have used between 2001 and 2010.
The SPL is looking for an independent commission to rule on whether the previous club's administrators breached regulations with alleged undisclosed payments through Employee Benefit Trusts (EBTs) which could result in the club being stripped of the trophies won during that period.
Rangers will accept a 12-month transfer ban, starting from September 1, imposed by the SFA for bringing the game into disrepute, mainly over the club's failure to pay more than £13m in taxes last season.
However, on Saturday, McCoist said he would "never accept" stripping the club of titles.
However, it appears obvious that either the SPL or Rangers will have to back down on the issue in order to get the situation resolved.
Source: PA
