The Crows are uncertain when they will learn the fate of Rankine, set to be the sixth AFL-listed player suspended for a homophobic remark to an opponent in the past 16 months.
Talks between Adelaide hierarchy and the AFL have stretched into a fourth day.
"We are having ongoing discussions with the AFL as part of the due process," a Crows spokesman said on Wednesday.
Rankine is facing a suspension of between three and five games after admitting making a homophobic slur to a Collingwood opponent in Adelaide's three-point win last Saturday night.
The 25-year-old apologised to the unnamed Magpie player on Sunday as the AFL's integrity unit launched an investigation.
Collingwood coach Craig McRae, asked if his player involved was OK, replied: "Yeah, I think so.
"We had a good chat over the weekend and then again Monday morning just to check in, it's about making sure our players are safe," McRae told reporters on Wednesday.
"But I don't want to demonise Izak either. Everyone is allowed to make mistakes.
"He seems like a really respectful young man and he's made an error, so the AFL will take their own course on that."
Rankine risks being suspended for the entire finals campaign of ladder-leading Adelaide, who are returning to the playoffs for the first time since 2017.
The Crows have one home-and-away game remaining and are then assured of hosting two finals.
Rankine won't train with his Crows teammates on Wednesday as Adelaide postpone a scheduled media conference with coach Matthew Nicks until Friday.
Last month West Coast's Jack Graham was banned for four games for making a homophobic remark to a GWS player.
In April last year, Port Adelaide's Jeremy Finlayson was banned for three games, then following month Gold Coast's Wil Powell was suspended for five matches, both for homophobic slurs.
Finlayson was banned for a comment to an Essendon player in last year's Gather Round.
Bombers coach Brad Scott said that followed an incident during the 2024 pre-season when an Essendon player made a remark that was picked up on a recording of the team meeting.
"The player, they thought (it) was an innocent comment," Scott told reporters on Wednesday.
"It was picked up on the microphone, I addressed it then and there. Because an example I used, if you make a comment like that and it's picked up on-field by an umpire's mic, there'll be severe ramifications.
"Clearly I couldn't foresee what was going to happen in Gather Round and in subsequent suspensions for those things."
Scott again addressed such slurs with his players after Finlayson's ban.
"It's disappointing it keeps happening, but we have got to keep educating," he said.
"I have a high level of confidence that we don't have a homophobia issue in our game, we have just got a lack of education issue.
"And players who, in moments of frustration, use words that they really don't understand the ramifications of the words they're using, but now they do, so there's no excuse."
Two VFL players have also recently been banned for directing homophobic slurs at opponents.
Sydney defender Riak Andrew last month was suspended for five matches for an anti-gay slur while playing for the Swans' reserves team against North Melbourne.
And in July last year, St Kilda's Lance Collard was banned for six games for homophobic comments while playing in the VFL for Sandringham against Williamstown.
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