Rangers look set for administration
Rangers have lodged legal papers signalling their intention to enter administration. The Scottish champions lodged the notice with the Court of Session in Edinburgh at lunchtime today. It is believed the Ibrox club now has five days in which to declare formally that administrators have taken over the running of the club.
The firm prospect of administration, which would bring a ten-point penalty from the
The HMRC (Her Majesty's Revenue and Customs) case centres around the use of employee benefits trusts (EBTs) which were in place before Craig Whyte took over from Sir David Murray last May. The tribunal verdict is imminent but it looks like the Ibrox club have pre-empted any decision.
"The instant that they are technically in administration there will be an automatic ten-point deduction and, perhaps of less relevance, an embargo on player registrations. If administration is confirmed, as we have done previously, we would be looking to work with the administrators and would be looking for a very early meeting."