Rangers to go into administration
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Rangers are to go into administration after lodging the notice in Edinburgh at Monday lunchtime.
It is understood Gers have five days in which to formally declare administrators have taken over the running of the club.
The Scottish Premier League champions are facing an uncertain future as they await the verdict of a tax tribunal.
The famous Ibrox club could face a bill in the region of £49million should they lose their dispute with HM Revenue & Customs (HMRC).
The club's financial problems are well documented following the decision to sell star striker Nikica Jelavic to Everton in January.
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Gers have now shown their hand after lodging an intention to go into administration with the Court of Session.
A Scottish Premier League spokesman confirmed a 10-point deduction and a transfer embargo would only be put in place when administration was confirmed.
The 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."
Brings a smile to my face to see this