No conclusion to Rangers talks

The Glasgow Rangers playing squad and the club's administrators have failed to reach a conclusion to financial talks.

The Gers are currently in administration and have been told that they will need to take a saving of £1m a month to stay afloat.

As a result, a number of players are believed to be prepared to defer their wages until the end of the season.

Talks have been ongoing throughout the day but no agreement has been reached.

"Everyone involved in the administration process has been attempting to reach a consensual solution in regard to job losses within the playing squad. The prime reason for this has been to achieve essential cost savings while preserving the fabric of the first team," said joint administrator Phil Clark. "This has not been an easy balance to strike and we would like to thank the manager Ally McCoist, his players and the PFA Scotland for attempting to find a solution that would be workable for all. Every realistic option is being explored.

"Regrettably, it has not been possible thus far to reach a consensus where players could accept the necessary level of wage cuts to prevent job losses within the squad. We do not for a moment criticise the players for this as the wage reductions that would be required are very substantial and would have a significant impact on each individual.

"For clarity, we cannot enforce wage cuts. The players have to agree to this course of action. The players have asked us to consider a final proposal overnight for discussion in the morning and we have agreed to this request."

Failure to reach an agreement means that there is still a possibility that some players could be made redundant.