Posted on Feb 29
Rangers' Bosnian defender, Sasa Papac (right) vies with PSV Eindhoven's Swedish striker Marcus Berg during their UEFA Europa League match in Glasgow, 2011. Papac believes players at the cash-strapped Glasgow giants could be sacked as administrators look to reduce the Scottish champions' massive debts.

Rangers defender Sasa Papac believes players at the cash-strapped Glasgow giants could be sacked as administrators look to reduce the Scottish champions' massive debts.

And the Bosnia star said that even if he survives an expected round of sackings, he does not expect to be at Ibrox after his contract runs out at the end of the season.

"We have to see what will be done by the administrators," Papac told Wednesday's Scottish Sun. "They are the ones who have all the power and we must wait to see what happens.

"Their job is to clear Rangers' financial debts, which means we could lose a lot of players," the 32-year-old added.

"The players are well paid -- in fact they are paid too well for the situation Rangers finds itself in," explained Papac, one of several Rangers' players currently away on international duty.

"Any one of the players could go now and I have no chance of getting another contract, at least not one at my existing level."

Rangers were placed in administration earlier this month after British tax authorities went to court to see payment of an unpaid bill of £9 million ($14m) built up since Craig Whyte took control at Ibrox in May.

The 140-year-old club is also awaiting the verdict of a tax tribunal that could leave Rangers with a bill of up to £75m, according to Whyte.

Rangers were docked 10 points for entering administration, a penalty which effectively handed the Scottish Premier League title to arch-rivals Celtic.

Administration is the process whereby a troubled company calls upon independent expert financial help in a bid to remain operational.