Soccer:Rangers players face another anxious night without clarity on their futures after failing to reach agreement with the club's administrators over wage cuts. Duff and Phelps had set today as a deadline following more than a week of talks aimed at achieving monthly savings of over €1 million but talks broke up early this evening without a decision.

Administrators will consider an offer from the players overnight as they seek to strike a balance between wage cuts and potential job losses. Players left Murray Park in quick succession shortly after 5.30pm, after arriving in the morning for talks aimed at preventing redundancies, and Duff and Phelps soon released a statement confirming another delay.

Joint administrator Paul Clark said: “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. 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.”

The financial dealings of the club face more scrutiny after the Scottish Premier League announced an inquiry into allegations that Rangers made undisclosed payments to players. The SPL board instigated the investigation during a board meeting today following claims surrounding the club’s use of employee benefit trusts (EBTs) during Sir David Murray’s reign.

Former Rangers director Hugh Adam, who left the club in 2002, alleged that some payments were not included in official contracts that were registered with the SPL. The use of EBTs, from 2001-2010, was the subject of a tax tribunal in January, although Rangers have defended their use of the offshore payments.

But whether they were legal or not in the eyes of the tax tribunal would not matter if the club had not disclosed the payments on the official contracts.

SPL rules prohibit payments to players that are not made “in accordance with a form of contract approved by the SPL”.