Rangers on the verge of administration

Soccer Betting Lines

02/13/2012 - Glasgow, Scotland (Sportsbook Betting Lines) - Defending Scottish Premier League champions Rangers confirmed on Monday that the club has filed a notice of intention to the Court of Session in Edinburgh to appoint administrators.

The club is still waiting on the outcome of a tax tribunal that could potentially see Rangers fined upwards of $75 million, although owner Craig Whyte has said he would fight the possibility of administration.

Over the next few days Rangers will attempt to reach an agreement with its creditors in an effort to avoid administration. But if that fails, they will be officially placed in the hands of administrators and docked 10 points by the SPL.

An SPL 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 10-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 sits four points back of leaders Celtic in the SPL table, with a 10- point deduction all but bringing an end to the title race.

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