((HT: SkySports))
And now the Scottish Football Adminstration is taking in a new investigation over an allegation by former director Hugh Adam that payments made to players were not disclosed to the governing body.
Adam claimed in a newspaper interview that some payments had been excluded from contracts filed with the SFA.
Duff and Phelps Administrator Paul Clark released the following statement on the Rangers website:
"In short, the Rangers business is trading at a substantial loss and we have no alternative but to fill an approximate £4.5 million shortfall by the end of the season. It is therefore imperative that we find savings of approximately £1million per month to ensure the ongoing viability of the business.
"As has been widely publicised, there have been a number of discussions this week in an effort to achieve the necessary cost reductions. We are determined that all realistic options should be explored and today discussions have been ongoing with Ally McCoist who, in turn, has been speaking to his players and the PFA Scotland."
Any financial decision in regard to player redundancies, which is the next step in the process will be laid out next week- and not discussed since there is a game this weekend against Hearts.
The next questions will be involved around possible players' deferring wages until matters can be straightened out...
The first shocking live report is here from Murray Park...
Rangers administrators are set to seize £3.6m from Craig Whyte's lawyers. The money is from the sale of advanced season tickets to the ticket broker Ticketus. The original value of the deal is thought to be around £24-million and is the subject of roughly a missing 6-million. The money was transferred to solicitors Collyer Bristow.
David Cowan is outside Ibrox for STV
And here's more from the initial movements of Rangers...
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