Scottish Premier League chief executive Neil Doncaster has offered no assurances that the competition would have a television deal next season after the clubs vowed to facilitate the Rangers newco's Third Division move.
The SPL invited Dundee to replace Rangers in the top flight following their annual general meeting on Monday, where no moves were made towards revisiting their decision to reject the Ibrox club or forcing an SPL2 breakaway.
Scottish Football League clubs were warned that the SPL could lose ££15.7million - all but £1million from broadcasters - were Rangers to be relaunched in the bottom tier but when asked specifically if there could be no TV deal, Doncaster said: "I'm not going to be speculating on what might be the case."
He added: "I think it's important that we focus on what the reality is and we'll be working to discover what the commercial damage is."
Sky and ESPN were due to sign a new £80million five-year deal this summer but their existing £13million annual contract still has a year to run. However, most of the SPL's commercial deals have an exit or re-negotiation clause should one of the Old Firm be absent.
Doncaster said: "In terms of financial consequences, we'll work through that over the coming days and weeks with our partners and as soon as we're in a position to make an announcement about the reality then we will do so.
"I'm not going to be commenting specifically on any discussions with any of our partners. It's important that we work intensively over the next few days and weeks to bring clarity for the benefit of our clubs and we'll do that as soon as we can."
ESPN said after the SFL vote on Friday that they wanted to continue their relationship with Scottish football but Sky Sports have made no comment.
Stenhousemuir produced a detailed report of their briefing by Doncaster and SFA chief executive Stewart Regan which stated that the SPL broadcasting rights were valued at £3million if the new Rangers kicked off life in the Third rather than the First Division.
But Doncaster said: "That document was put together by the SFL not the SPL or the SFA."