"Unquestionably there are major financial consequences, for all Clubs in Scotland, should a newco Rangers club not take a place in next season’s SPL and there has been a proposal put in front of the SFL clubs that would allow Rangers direct entry into SFL1, contrary to the current league rules. On its own this proposal is clearly unacceptable, on a number of levels, and is something the Board of PTFC are not prepared to support."
Kinda sounds like they don't support Newco joining the First Division.