Losing the Old Firm derby between Celtic and Rangers until at least 2015 could deal a £120m blow to the Scottish economy after the new Ibrox club were voted into Division Three after the failure of the old one to avoid liquidation.
First Minister Alex Salmond is prepared to use the Scottish government's influence to lobby on Scottish football's behalf as the Scottish Premier League looks to preserve its television contract with Sky TV despite Rangers' exit.
St Mirren chairman Stewart Gilmour predicts that his club could be one of five in the Scottish Premier League - the others being Dundee United, Inverness Caley Thistle, Kilmarnock and Motherwell - forced into administration within weeks if the new Rangers start life in Division Three.
Scottish Premier League chairmen could decide at its annual meeting on Monday to continue with 11 teams next season and deny Dundee or Dunfermline a promotion place after Scottish Football League clubs voted to place the new Rangers in the Third Division instead of Division One.
Tony Higgins has warned that the cash crisis resulting from Rangers' collapse has left the Scottish game vulnerable to match fixers and the players' union chief is liaising with Interpol and Europol in warning clubs to be on the alert as foreign crime gangs target the country.
Former Dundee director Giovanni Di Stefano has bought a £1 share in the old Rangers and has promised that "sparks will fly" as the Italian goes out to prove that Rangers should never have gone into administration.
If Rangers do play in Division Three this season, it will resurrect the oldest derby in world football, against Queen's Park, which was first played 133 years ago.
Norwegian twins Tom and Kim Skogsrud, who signed two-year contracts after leaving Manchester City last summer, are the latest players to quit Rangers, the 19-year-old defenders telling the new club they do not wish to play in Division Three.
Kilmarnock manager Kenny Shiels has had to give up on re-signing his midfielder son, Dean, saying he does not have the money to bring in any additional players.
Motherwell manager Stuart McCall does not expect to make any new signings, despite playing in the Champions League qualifiers, because of the decision to place Rangers in Division Three.
Celtic are closing in on the signing of out-of-contract Leeds United left-back Aiden White, who has been joined on manager Neil Lennon's radar by Sebastian Boenisch after the Polish defender left Werder Bremen.
Celtic are interested in signing 22-year-old Spanish goalkeeper Joel Robles, who is third choice at Atletico Madrid.
Scotland striker Kenny Miller will fly to the United States this week for talks over a two-year contract with Vancouver Whitecaps in a move approved by Cardiff City manager Malky Mackay, who aims to make Liverpool's Craig Bellamy his replacement.
Scotland striker Garry O'Connor, who has signed a two-year deal with Russian Second Division outfit Tom Tomsk following his exit from Hibernian, says he rejected the chance to stay in the Scottish Premier League.