Glasgow Rangers Football Club's administrators have admitted frustration in the search for agreement over cost-cutting measures that will include "substantial pay cuts" for players.

Duff and Phelps was appointed last month and has imposed a deadline of 16 March for any potential investors to put forward cost-saving plans, with savings of £1m a month to be met.

However, David Whitehouse of Duff and Phelps said agreement was still yet to be reached with players due to "personal conditions sought by the advisers to the players".

Meanwhile, the administrators of Portsmouth Football Club have revealed there is a "real danger of the club running out of cash before the end of the season".

It follows the announcement that the npower Championship side was "unlikely" to receive any further funding from the Football League or through its parachute payments.

Trevor Birch of PKF said work will continue to meet the funding gap, as well as addressing "the cost structure, primarily player costs, for next year" to cut ongoing losses at the club.

Another Football League club - Port Vale Football Club - is facing administration after the local authority applied to the High Court for Begbies Traynor to be appointed to the club.

Stoke-on-Trent City Council leader Mohammed Pervez said: "We need to make it clear we have only opened a window of opportunity for the club."

Details: www.rangers.co.uk
Details: www.portsmouthfc.co.uk
Details: www.port-vale.co.uk