The board gathered at 11am at Hampden on a potentially significant day for the club, who are in administration and at risk of going out of business.

SPL chiefs insist they are doing everything in their power to keep cash-strapped Gretna in business until the end of the season.

But administrators Wilson Field will close the relegated club if they believe the Black and Whites cannot be kept going until the end of the season.

SPL secretary Iain Blair has admitted Gretna are in a vulnerable state, and Wilson Field have confirmed they will make a statement on the club's future this afternoon.

Gretna have been in administration since March 12, after benefactor Brooks Mileson withdrew his financial support.

SPL cash advances have allowed them to stay functional, but 22 players were made redundant last week, along with six community coaches and the club's European scout.

That left them with just 20 players in total, including members of the disbanded youth team.

The Borders club's relegation was confirmed by their defeat to St Mirren on Saturday, but they have seven matches remaining until the end of the SPL season.

With the league campaign not finishing until May 18, administrators will want to be confident funds are in place to pay players, coaches and club staff.

Reports claim Wilson Field are looking for the club to be taken over immediately by new owners.

Gretna were thrust into a crisis when Mileson ended his financial commitment to the club following a spell in hospital with a brain infection.

Should Gretna fold now, the SPL would need to decide whether any of their results this season could be allowed to stand.

If the results were wiped, and all points from matches against Gretna taken away from clubs, that could have a significant impact on the league standings towards the top of the table.

Third-placed Dundee United would benefit, having taken only three points from their three games against Gretna this season.

United's rivals for the third European place, Hibernian and Motherwell, have each taken nine points from the under-threat minnows.

Gretna were admitted to the Scottish Football League in 2002 and won promotion to the SPL last year, having risen through the SFL ranks.

Going into administration meant they were docked 10 points, and they currently have six points.

Gretna were due to play a reserve-team fixture at Inverness today.

However the club have confirmed they have pulled out of the reserves league due to their shortage of players, giving the SPL a fresh problem at that level.

The SPL board meeting finished shortly before noon, with executive chairman Lex Gold stating there was nothing to report from the talks.