RANGERS HAVE ENTERED administration, it was confirmed in the Court of Session in Edinburgh today.
The club are now automatically deducted 10 points, putting Glasgow rivals Celtic 14 points clear at the top of the Scottish Premier League, amd all but handing them the title.
The Ibrox club filed legal papers to the authorities yesterday, signalling their intent to enter administration. Club officials were keen to force the issure themselves rather than be pushed into the process by revenue chiefs.
Rangers are currently waiting for the verdict of a tax tribunal with a possible bill of ‘close to £70million’ mooted this week.
“Will work with administrators to get the club out of administration as quickly as possible and end all uncertainty,” owner Craig Whyte told Sky Sports earlier.
Earlier, Celtic chief executive Peter Lawwell insisted the green and white half the city, as well as the rest of the SPL, would be fine if Rangers ceased to exist.
“We’ll survive very well. There will be no material impact on our business going forward. We have a stand-alone strategy, a stand-alone financial plan.”
Former manager Graeme Souness reckons that the club will cease to exist in its current guise.
“I think they will go into administration and reappear as Rangers 2012 or something, sadly,” he told the Daily Mail. “It is just a tragedy that has happened to them.
“I think they will come out of it. I think there will be an addition to the name, Rangers whatever. They will come out without their debt and start again.”
More to follow
