Eleven SPL clubs now have 15 days to make a decision that will have a lasting effect on themselves and Scottish football.

For all the emotion and politicking, that is what is at stake when they meet on July 4 to vote on The Rangers Football Club's request to receive Rangers Football Club plc's league share. The SPL's short statement yesterday confirmed that an application had been received, but the complexities were evident enough.

Neil Doncaster had little inclination to add to the statement, and there are awkward questions around the potential outcomes. Yet the depth of feeling the issues raises, and the vulnerability of directors, was revealed in a lengthy Motherwell statement yesterday afternoon. "The club has been flooded with correspondence from supporters of many clubs which ranges from fully reasoned arguments to direct threats concerning the consequences of a vote either way," the statement said.

It is a time for leadership, and the SPL's lack of response to one of the two largest clubs in the country effectively giving notice of its overseeing company going into liquidation last Tuesday was risible. The individual clubs, including oldco Rangers who have a vote, must decide between punishing the Ibrox side for such gross mismanagement of their finances by Sir David Murray and Craig Whyte that the club left creditors of up to £55m effectively unpaid, since once administration costs are taken away there will be little left to distribute, but also the allegation that unregistered side payments were made to players.

An investigation by the SPL's lawyers, Harper McLeod, has concluded that Rangers have a case to answer against their use of EBT's from 2000 to 2010, and disciplinary procedures will be delayed until the fate of newco Rangers is established. But what happens if the share vote is declined? No disciplinary procedures? And what other sanctions might be applied to the newco Rangers? Points? Financial penalties?

There are 18 possible sanctions in all for the EBT investigation, but they range from a warning to any "sanction or disposal not expressly provided for in [the] Rules as [the SPL Board or an independent commission] shall think appropriate". Could, for instance, the penalty be enough points taken away from last season's total to see Rangers relegated instead of Dunfermline, and so the newco be consigned to the first division rather than the third division, which is where it would need to go if five clubs voted against the league share transfer?

It is not a simple scenario, and club directors are torn by the choice. In effect, they must decide which has the lesser effect on their business model: voting yes and incurring the wrath of a grassroots fan movement that is threatening to boycott matches, or voting no and having to manage the subsequent drop in their income.

"No decision has been made by the club on the SPL share transfer, as we will only now see the full details of the proposal and be provided with the full information required," said Motherwell's statement. "Considerable uncertainty on the implications for revenues and costs complicates our decision. Our board is predominately made up of lifelong Motherwell supporters and we fully understand that fans are the single most important group within the club.

"Despite some reports, it is our understanding that Sky/ESPN have made no official statement on how they will react to a no vote and we believe that a number of other contracts could be renegotiated if Newco' was refused entry to the SPL.

"The common response to the potential loss of revenue is that clubs need to cut their cloth accordingly. This cannot be done overnight. It is vital that we honour player and employee contracts and meet all our other obligations. In any event it would appear a yes vote may not even guarantee that 'Newco' will play in the SPL next season as the club is still subject to SFA sanctions."

The latter comment is evidence of the complexities, since once the 21-day appeal period following the Court of Session's decision to overturn the registration embargo expires tomorrow, the SFA can then arrange a sitting of its Appellate Tribunal, which could impose a suspension or ban on Rangers, or a Scottish Cup ban or fine. There is, for now, a number of potential outcomes for the newco Rangers.