Rangers chief executive Martin Bain has revealed the club may take legal action over Vladimir Romanov's alleged accusations the Old Firm 'buy off' referees.
The Hearts majority shareholder sparked a rumpus after an interview with a Russian magazine was transcribed by the Daily Record.
However, Romanov has denied making the comment and last night claimed he was misquoted in a colourful diatribe against the media.
Celtic chairman Brian Quinn revealed yesterday morning he would take legal advice.
And Bain told the Scottish Sun: 'It was only after we landed on our flight back from Israel that I was made aware of Mr Romanov's alleged comments.
'If they are confirmed then the matter will be referred to both the club's lawyers and the SFA.
A spokesman for Romanov said yesterday: 'Vladimir has issued a categorical denial that he said anything about referees being bought off by the Old Firm.'
The controversial Hearts supremo is already involved in a dispute with the Scottish Football Association after he appealed against a £10,000 fine for accusing Scottish referees of bias last season.
The Lithuanian-based businessman hit out at the media and accused former players of betrayal in a statement on the club's website, www.heartsfc.co.uk, last night.