Rangers chief executive Charles Green has accused the players who have rejected a transfer to his newco of "opportunism" and insists he will challenge their decisions.
Skipper Steven Davis is the latest player to reject the offer of a transfer to the newco, which was set up in the wake of the original club's liquidation.
Davis follows in the footsteps of the likes of Allan McGregor, Kyle Lafferty, Steven Naismith, Steven Whittaker and Sone Aluko, who could all now effectively become free agents.
Green has always insisted that player contracts were automatically transferred to the newco as part his purchase of the stricken original club's assets and any player who tries to walk away could face legal action.
The former Sheffield United chairman reiterated he would challenge the players' decisions and accused them of trying to take advantage of the club's financial woes.
"I'm very, very disappointed of course," Green told Sky Sports News when quizzed on the latest rejections. "Particularly so late in the proceedings.
"It is clear in the regulations, if someone has an objection they have to notify within 24 hours, this is nearly two weeks.
"I think this is just opportunism. We will definitely challenge it yes."
When asked whether he expected more players to try and quit the club Green added: "I've learnt not to expect the expected at Rangers."