BREAKING NEWS: Scottish Premier League club goes bankrupt, concedes 10 points deduction.

file for bankruptcy protection.

resulting in a 10-point deduction for the 140-year-old team and essentially giving

After a legal battle with the tax authorities over an estimated cost of up to £75

million ($A110 million), Rangers—the most well-known European team to go into

administration—are now 14 points behind their fierce Glasgow rivals.

In addition to being the most successful team in Scottish football, Rangers also owns

the record for the most domestic league titles won by any team worldwide.

The final effort to prevent the club from going out of business is to go into financial

administration.

“We acknowledge our club’s rich history and the significance it holds for individuals

all throughout the world.

Paul Clark, the administrator, stated. Although it’s a depressing day for Rangers,

The awful uncertainty that has been looming over the club is also addressed.

“I can guarantee to all Rangers fans that the club’s best interests will be the primary

consideration in every element of the administration.

However, Whyte has failed to address the club’s financial problems.

and tax authorities are asking that unpaid taxes be paid over a period of time.

Rangers, who were established in 1873, lost to Zenit St. Petersburg in the 2008

which, despite taking home the now-defunct European Cup Winners’ Cup in 1972,

was the forerunner to the Europa League.

In the Scottish Premier League rankings, Rangers was four points behind.

After the 10-point penalty, the squad will have 51 points, nine more than Motherwell

in third place.

Get more related news on https://sportviewers.com