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 Scottish Premier League, will come as no surprise to Rangers fans or the rest of Scottish football. The Ibrox club are awaiting the verdict of a tax tribunal which could cost club around £49m.

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.

A Scottish Premier League spokesman confirmed to Press Association Sport that a ten-point deduction and a transfer embargo would only be put in place when administration was confirmed. The spokesman said: "At this point in time Rangers are not in administration and we await developments.

"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."

Rangers announced they had agreed a deal to sign Gabon striker Daniel Cousin just as news emerged from the court. The court confirmed that solicitors lodged the papers on behalf of the club's directors today. The paperwork officially confirms the club's "intention to appoint an administrator".