Captain Davis leads Rangers exodus
Allan McGregor, Steven Davis, Kyle Lafferty and Jamie Ness will join the growing Ibrox exodus after refusing to transfer their contracts to Charles Green's newco Rangers.
They join Steven Naismith, Steven Whittaker, Sone Aluko and Rhys McCabe - all of whom opted against the transfer last week. Green faces the prospect of losing more players, potentially without being compensated.
Lawyer Margaret Gribbon of Bridge Litigation said: "This has been an extremely difficult period for all the players and in the end their decisions were influenced largely by footballing considerations.
"SPL football appears highly unlikely and even First Division football cannot be guaranteed in light of comments made today by two First Division clubs [Falkirk and Raith Rovers].
"The players' commitment and loyalty to oldco Rangers cannot be questioned; they voluntarily took significant wage cuts in a genuine act of solidarity which ensured that none of the playing squad or club staff would lose their jobs. But for their contribution, it's likely that the club would not have survived until the end of the season.
"As professional footballers, the players' careers are relatively short lived and they are entitled to exercise basic employment rights the law affords to all employees in this country under the TUPE Regulations.
"I now expect the SFA and FIFA to interpret their rules and regulations in accordance with the TUPE legislation so that the players' registrations can be released without delay."
Six of the 12 SPL clubs have confirmed they intend to oppose Green's application to take Rangers' top-flight place. A vote will be held on July 4 to determine whether or not the newco will be able to compete in the SPL.
Green bought the assets and business of Rangers for £5.5 million earlier this month.
Lee Wallace and Lee McCulloch are the only two players who represented Rangers last season to have pledged their future to Green's newco.