Charles Green and Rangers players are on a collision course over whether they should transfer to his new company or not.
Steven Naismith and Steven Whittaker announced plans to object to the transfer of their contracts to newco Rangers under TUPE [Transfer of Undertakings (Protection of Employment)] regulations. But Ibrox chief executive Green has warned he would take legal action against players who attempt to walk away for free.
He said in a statement: "It appears that is the route several players are choosing. I can assure those players and clubs who may be interested in signing them that Rangers will seek damages for breach of contract and for inducement to break contracts."
He added: "It is a great pity that certain players have chosen this time to attempt to tear up their contracts and walk away from the club.
"The club is facing massive challenges in terms of its league status and the last thing the fans want to see is a dispute between the club and players."
Green's Sevco consortium completed the purchase of the business and assets of Rangers for ?5.5million when the club was consigned to liquidation after failure to secure a Company Voluntary Arrangement (CVA).
He added: "When the players agreed to take wage cuts earlier this year they renegotiated their contracts to allow them to leave for reduced values. That was a sensible quid pro quo and meant that the club would still get some transfer value for them should they leave.
"What is happening now is that the players want to leave for nothing, thereby denying the club any transfer value at all.
"At the same time, players who are ready to breach their contracts want to secure handsome signing on fees for other clubs, while Rangers get nothing."
Naismith said uncertainty over which division Rangers will play in next season was a key factor in his decision.