Rangers Step Towards Administration

Last season, Rangers sealed their 10th title under manager Walter Smith, their 54th in all - a new world record of domestic achievement. Craig Whyte took over the club in the same month, and almost a year on, with a tax bill hanging over the club, Whyte has taken the decision to submit papers to Edinburgh Crown Court signalling the club's intention to enter administration.

Whyte was booed by fans outside Ibrox as he read a statement detailing the intentions of the club but he insisted the move is for the Glasgow side's benefit rather than demise.

"If we hadn't done that then liquidation could have been a possibility," he said. "This secures the long-term future of the club. The £49million often quoted is the tax bill and interest but they can charge you a penalty on the tax bill so we could have been up at £75million. It is a shocking figure and there is no way we could pay it."

It is thought the club now have five days to officially declare that administrators have taken over proceedings at Ibrox. A 10-point deduction in the SPL would follow, effectively handing Celtic - currently four points clear - the title. Following last week's shock Scottish Cup exit after a 2-0 loss at home to Dundee United this would spell a trophy-less season for Rangers - they were knocked out of the League Cup away to Falkirk and fell at the first hurdle in European qualifying.

Ally McCoist reiterated his intentions to stay at the club but with results going against Walter Smith's apprentice the bookies have already priced up Super Ally's replacement. Former Gers player, Billy Davies is currently the odds on favourite despite seemingly having offered a word of support to McCoist. Speaking at the Scottish Cup draw last week - from which Rangers were of course absent - Davies said, "Give him a break - that's what I say. He's working under very difficult circumstances and he is doing his best."