The Glasgow club will find out today if Charles Green's newco will be sent down from the Scottish Premier League and if they are, McCall can see disastrous knock-on effects for most of the top flight clubs including the Well.
"Everyone has to know the reality of what's going to happen. It doesn't paint a pretty picture.
"For the sake of Scottish football it will be financially disastrous for a lot of clubs if Rangers go to the Third Division. Anyone can see and understand that.
"You can have all the integrity in the world but the rumour is half the SPL clubs might enter administration if it happens. That's a harsh fact and a reality.
"Over a third of our income comes from broadcasting.
"Take that away and add it to the fact Rangers won't be in the SPL - it's going to be difficult for a lot of clubs to survive. "It's an absolute nightmare. The people making the decisions can't win."