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Rangers locked in talks with SPL
Talks are ongoing between the Scottish Premier League and Rangers newco as Charles Green's club continues its bid for membership of the Scottish Football Association.
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 against Brechin in the Ramsdens Cup 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 re-launched club to inherit old Rangers' SFA membership.
The SFL clubs voted to place 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 £13million 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.
Meanwhile, it has been reported that broadcasters are not keen to sign up to an SPL television deal without having access to Rangers newco's matches as part of their overall package.
If the SPL is unable to include Rangers' rights in any media proposal, the SFL could lose out on their annual £2million settlement fee that was agreed in 1999 when the top clubs split from the league to form the top flight.