Ally McCoist has conceded the prospect of players walking away from Rangers under a `newco` scenario would be a "devastating blow" for the club.
Administrators have named American businessman Bill Miller as preferred bidder to take over the Glasgow giants.
His plan is to create an "incubator" company while Duff and Phelps bid to take the club out of administration through a Company Voluntary Arrangement (CVA).
PFA Scotland chief executive Fraser Wishart warned last month that Rangers players may be able to leave for free if a new company is formed to take over the club's assets.
But McCoist stressed that not all players would necessarily opt to quit Ibrox even if they had the choice.
The Light Blues boss said: "It would be a devastating blow if it happened.
"But we are all assuming, if there's a possibility that the players can leave, that they will do that. That might not be the case.
"There are a lot of players here who love playing for the club and appreciate what the club is all about. Never under-estimate that.
"There are a good few boys here who have grown up with the club and know what the club is all about.
"It's maybe not just as straight-forward as a lot of people would think. Not all footballers just want to take a fast buck.
"Footballers are intelligent enough to understand that they have to look after themselves and their families - of course they do.
"But to suggest there is absolutely no loyalty at all among football players, I would say is totally wrong."
Rangers will be without Salim Kerkar for their Clydesdale Bank Premier League game against Motherwell.
The forward is struggling with an ankle knock and is set to miss the lunchtime clash at Ibrox.
However, Lee McCulloch and Andy Little are both in contention after recovering from knocks that saw McCulloch start on the bench for the 5-0 win over Dundee United, while Little was absent from the squad altogether.
Manager Stuart McCall fears Motherwell's 37-game winless run against Rangers is set to continue as the beleaguered Glasgow giants bid to end the campaign on a high at Ibrox.
The Steelmen have a fully-fit squad for the match.
After securing third place and a place in the third qualifying round of the Champions League this week, manager Stuart McCall reported a number of players suffering from knocks.
However, Motherwell are seeking to end the season on a high and McCall could name the same team that triumphed against St Johnstone and Hearts.
Rangers squad: McGregor, Whittaker, Bocanegra, Wallace, Goian, Bartley, Aluko, Bedoya, Edu, Ness, Broadfoot, McCabe, McCulloch, Alexander, Mitchell, Perry, Healy, Little.
Motherwell squad: Randolph, Hateley, Hammell, Clancy, Hutchinson, Jennings, Lasley, Law, Humphrey, Murphy, Higdon, McHugh, Craigan, Forbes, Ojamaa, Carswell, Daley, Hollis