Scottish Football League chief David Longmuir admits he would be happy to put Rangers FC through the normal assessment process for prospective clubs entering the Third Division.
Ally McCoist, manager of the financially stricken club, has admitted that dropping back to Scotland's fourth tier after being hit with a 12-month transfer embargo could perhaps be a viable option.
However, Longmuir has made it clear that the Ibrox outfit could not simply walk into the competition and would have to undergo a rigorous application process just like a host of clubs did in 2008 when Gretna went under.
"They would have to put a proposal to us on why they should be allowed in and then hope they were voted in by the SFL clubs.
"At the moment it's difficult for me to comment on Rangers' situation. But anything that brought excitement and freshness to the SFL would be something I'm interested in.
"However, at the moment there is no vacancy in the SFL. Rangers are in administration, which is a situation other clubs have found themselves in and survived.
"The same could happen to Rangers. As a Scottish football supporter, I hope they do.""If Rangers or anyone else applied for entry into the SFL they would have to go through the same process as Annan, Spartans FC, Preston Athletic and Cove Rangers did four years ago," he told Record Sport.