The Scottish club were bought last week by Charles Green for £6million but are in liquidation.
Rangers could face starting next season in Scottish Division Three — if SPL clubs vote next month against their bid to be allowed back in this term.
Green is looking at other options, including buying Bury and playing English league games in Glasgow.
They would want to start immediately by taking up Bury’s fixtures for next season.
The Greater Manchester club kick off with a home game against Brentford on August 18.
There is strong opposition to Rangers being invited back into the Scottish Premier League.
The SPL fixture list currently has ‘Club 12’ listed until the other 11 clubs vote on July 4.
Rangers do not want to start right at the bottom of the Scottish professional leagues and have long been touted for a place south of the border, along with Old Firm rivals Celtic.
A source told SunSport: “Yes, Rangers really are thinking about this.
“They are in a position at the moment where they have no idea what the future holds.
“They don’t know whether they will be in the SPL next season and do not want to go to the bottom of the ladder.
“Acquiring an English club would get them the foothold they have always wanted down south.”
It is not clear whether the amazing plan to buy is even allowed under Football League rules in England or Scotland.
But there are precedents with Welsh club Swansea playing in the English Premier League and rivals Cardiff in the Championship.
Berwick is actually a town in England but their football team plays in Scottish Division Three.
Also, Wimbledon moved 60 miles north to Milton Keynes before being renamed Milton Keynes Dons in 2004.
Bury fans are sure to be furious at the suggestions to take their club more than 200 miles north.