Rangers Football Club one of Scotland's oldest football clubs, is heading for liquidation following the non-payment of millions of pounds of tax and VAT.
Revenue and Customs, decided to vote against, a Company Voluntary Arrangement. The decision by HMRC also means Rangers will not be able to play European football for three years.
This is sad news for a club with such an illustrious history. They are the only club in the world to have won more than 50 national league titles and one of the best achieving clubs on record winning 115 trophies. And it is this success that tax authorities are intent on finding out precisely why one of Britain's biggest clubs got into such a financial mess. Administrators for the club said that other clubs in the Scottish Premier League will now vote to decide if Rangers can continue playing in the top flight.
Charles Green, who is leading a consortium aiming to acquire the club, will now push ahead with plans to buy the club's assets and form a new company.
Written & Presented by Ann Salter