Rangers goalkeeper Allan McGregor has reportedly agreed to a 75% wage cut in a bid to avoid redundancies at the stricken Scottish club.

It has already emerged that Gers duo Steven Naismith and Steven Whittaker have accepted a significant wage cut as the club's administrators try to save £1m a month.

It is now understood that McGregor has joined his teammates and taken a 75% pay cut, despite reportedly rejecting the administrators' proposal in the first instance, according to Sky Sports News.

Joint administrator David Whitehouse claimed yesterday that if agreements with the players weren't made then there would have to be "significant cuts" within the club.