Rangers enter administration

Rangers have officially moved into administration, incurring a 10-point penalty from the Scottish Premier League as a result.

The Glasgow club have been in financial difficulty for several months, and appointed London-based firm Duff and Phelps as the club’s administrators on Tuesday.

The firm will now take charge of the day-to-day running of the club as they bid to battle their mounting debt problems.

The SPL champions first gave notice of their intention to enter administration on Monday, as they face a tax bill which could rise to 75 million pounds.

The news is likely to send shockwaves through Scottish football, as the long-term future of the famous club becomes increasingly uncertain.

Former manager Graeme Souness described the situation as a “tragedy”, while owner Craig Whyte met with the players at the training ground on Monday to hold frank discussions over the current turmoil.

However, Whyte was insistent that going in to administration is the only way to drag the club out of trouble, telling Sky Sports: “This was the best way to take the club forward and end the uncertainty that’s surrounding Rangers at the moment.”

“What we’ve done today is the start of a road to recovery. Rangers will always be around, Rangers will always be here at Ibrox and this is the start of the healing process.”

“We will get over this and we will come out fighting and come out stronger, there’s no question about that.”