Owner Craig Whyte admits Rangers could be about to face the "toughest few weeks" in the club's history.
The Scottish champions are awaiting the verdict of a tax tribunal which could leave them with a bill of as much as £49million should they lose their dispute with HMRC.
Boss Ally McCoist admitted on Friday that, because of the club's finances, the welfare of Rangers is more important than results on the park right now.
Speaking in an interview with Scotland on Sunday, Whyte said: "I agree with him. This has the potential to be the toughest few weeks in the club's history."
He added: "I wouldn't say crisis is the right word. Not at the moment. But we're certainly in the toughest time in the club's history. The next few weeks. I'd definitely say that much."
Whyte says he has a plan in place if the verdict goes against Rangers but declined to divulge the details.
He said: "I play my cards close to my chest. Ally and I work closely together and if that situation arises he'll be the first to know about it. We're talking about hypotheticals here."
Asked if he is nervous about it, he replied: "Not nervous at all. There's a plan in place for any eventuality.
"I couldn't go into it. If I publicised it then it would potentially jeopardise what we're working on.
"But, remember, I bought the club with this thing hanging over it. I've been thinking about it since day one. The long-term interest of the club is what I think about every day."
Whyte was speaking before the Gers crashed out of the William Hill Scottish Cup on Sunday afternoon.
And speaking after that game, McCoist said he believes the ongoing tax dispute rather than results on the park is more likely to plunge the club into crisis.
McCoist said: "I think the crisis point comes with the tax case more than anything. That's the biggest problem that the club faces. I don't think there is any doubt about that.
"What we all need is clarification on what's happening so that we can move forward. The uncertainty regarding this tax issue is the biggest problem that we have.
"You could use the word 'crisis' in terms of the tax case, but we need to know one way or another where it stands and what we face so we can deal with it and move forward."
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