Which way now for Rangers? - Herald Scotland

Now even liquidation is a possibility. Nobody should celebrate that, least of all their Old Firm rivals.

The Scottish Premier League Champions lodged papers at the Court of Session in Edinburgh yesterday, indicating that the 140-year old club plans to go into administration. The move ends months in which it has been rocked by rumour and speculation, after Scots-born entrepreneur Craig Whyte took over, promising to pay off its £18 million bank debt and spend millions on players. But in the intervening nine months, Mr Whyte has raised more questions than he has answered about the club's finances.