A 12-month transfer embargo was imposed on Rangers over their non-payment of tax last season, but that was overturned in the Court of Session last Tuesday, with the issue sent back to the SFA's Appellate Tribunal.
However, Lord Glennie's ruling appears to have been something of a pyrrhic victory for the Ibrox club.
Rangers, who currently owe more than £21million in tax, face ejection from the Scottish Cup or suspension or expulsion from the game altogether unless the maximum £100,000 fine is found to be sufficient punishment - an extremely unlikely scenario.
Yesterday, Charles Green, who is leading the consortium in place to buy Rangers, had the punitive sanctions in mind when he spoke about possible "disaster" for the club and Scottish football, but claimed he had little option but to go to the civil courts because the "Court of Arbitration in Sport was not open to the club."
The SFA responded by denying the route to CAS was closed off with a statement which concluded: "Indeed, no representation was made by the club to the Scottish FA to discuss the possibility or the process of seeking arbitration via the Court of Arbitration for Sport before Judicial Review was actioned.''
To back up their argument, the SFA will cite 62.2 (m) of their Articles of Association which refer to the powers of the board - "it may submit or refer claims by or against the Scottish FA to arbitration."
However, that assertion has now been rejected by Rangers with a spokesman telling Press Association Sport: "The Court of Session accepted Rangers' position that it had no alternative route of appeal. The judgement from Lord Glennie made it crystal clear. CAS would not have heard the case
"We repeat, we would like to see an outcome where common sense prevails and there is no damage to other clubs in Scottish football.
"Rangers fully accept that there should be a sanction but it ought to be proportionate given the circumstances the club was in ie. it was the victim of misdeeds of individuals who are no longer at the club."