Gregg Wylde has arrived at Rangers' Murray Park training ground amid reports the midfielder has become the first player to leave the club as part of the administration process.
The 20-year-old, who has made 47 appearances for the club, is among five players who have reportedly agreed to leave the club without taking any redundancy package.
"I wanted to help out the club by keeping people in a job," Wylde told STV. "I was so tired I couldn't really sleep at night. It was getting to me so I thought I would leave."
Further departures are likely with administrators Duff and Phelps expected to make redundancies after they failed to reach an agreement with the players on cost-cutting.
Celtic defender Charlie Mulgrew, who celebrated his 26th birthday at the Hoops' Lennoxtown training ground by picking up the Clydesdale Bank Premier League player of the month award for February, expressed sympathy for Wylde.
"I know one or two of them," said Mulgrew, who won his first cap for Scotland in the friendly in Slovenia. "Somebody mentioned Gregg Wylde, I know him and I know his family well.
"So I have a lot of sympathy towards him and I just hope things can get better over there.
"It just shows how good a character he is (to give up wages).
"Somebody was saying at lunch that he came through here (at Celtic) when he was 11.
"I am sure he will do okay and go on and get another club because he has done very well at Rangers and he is a very good player."
Mervan Celik is also set to leave the club today.