SPFA representative Fraser Wishart has confirmed that a deal has been agreed for a number of players at Glasgow Rangers to take pay cuts and avoid redundancies amongst non-playing staff at the club.
Senior players including captain Steven Davis, Steven Whittaker, Allan McGregor and Steven Naismith have all accepted 75% wage cuts as the club looks to save £1m per month in order to get themselves out of administration.
The breakthrough is likely to keep the club in business after fears that the Scottish champions could be liquidated.
"It's been a long week for everyone connected with the club," said Wishart. "The players have agreed to alter the terms of their contracts for the next three months to help the club through this difficult time.
"All the players have signed up to a variation of their contracts for the short term. I think it's a huge step forward in the future of Rangers Football Club.
"It's a huge gesture by the players to this club and to the fans. They wanted to protect as many jobs as possible."
The Scottish Football Association claimed on Thursday that owner Craig Whyte was not a "fit and proper person" to run a football club following an independent inquiry.
