Former Rangers manager Graeme Souness fears the club will cease to exist in their current form as they prepare to pay the price for "chasing the dream".
Rangers owner Craig Whyte has admitted they faced a potential £75million tax bill, which they could not pay, following a tribunal into payments made to employee benefit trusts over the first decade of this century.
The process of administration now looks inevitable with little likelihood of a deal being struck with Her Majesty's Revenue and Customs.
Souness told talkSPORT: "I think they will go into administration and reappear as Rangers 2012 or something, sadly.
"It is just a tragedy that has happened to them. I think they will come out of it. I think there will be an addition to the name, Rangers whatever.
"They will come out without their debt and start again."


Comment 2 - 21 of 21
Shamrock rangers, just an idea.
God Save The Queen..... But The Queen cant Save Rangers ??????
Rangers will reappear in english football!!!!!
tax dodgers rangers 2012
tax dodgers rangers 2012
You could call them forest rangers, after the ones that pay their taxes
i,m a celtic fan and the only place to win leagues and games is on the field not in the courts ,i rather not see rangers loose 10 points it will damage scottish football every club in scotland will be a loser at the end of the day its not the fans or the players faults its greedy people who have no interest in the game trying to make a quick buck
Now theres gratitude for you, we have given the tims a present of the spl title, or maybe not. What a triumph it would be if we clawed our points back and reclaimed what is rightfully ours the suicide stats would rise dramatically from the great unwashed.
We will always be the mighty Rangers regardless of what becomes before or after this great name.
WATP
WHERE ARE THE POINTS
SKINT FANNYS FC
I think Rangers are a team of the modern times like a lot of the teams in England they were given credit because of who they are and there credit just ran out as there debt got bigger and bigger.
Unsure if mr Souness and mr Murray are fully to blame but back in mr Souness's day i don't think for one moment a large wage packet got some of the bigger names to rangers from england if my memory's right it was the fact they could offer football in europe and english clubs at the time could not !
Rangers will be back and build from the ground upwards,may be the money won't be there but who they are and what they have done will count when asking players to come to them.
Sir David Murray,
This was a dodgy deal that you set up, it was set up to help you avoid paying the tax & inflated wages to your teams from 1990 - 2006.
Why dont you stick your hand in your cash lined pockets and bail the club out of the debt you lumbered them with?
Why dont you help the club that you say you love, why dont you help to preserve the history and the dignity of your fanbase?
Your call big man !
Its THE only way the beggars can win the title,we have been in a sorry state for some time now and yet we still managed 3 in a row,W.A.T.P..........
Rangers have been raped! sign of the greedy times im afraid!
Rangers...Heres to new beginnings......W.A.T.P.
Cmon The Celtic pulled back 19 points the leagues not over,........although your club is PMSL.
texas rangers, begging bowl rangers ,big issue rangers the list could go on and on lol
W.A.T.P.
I think that it was SOUNESS who put Rangers on the road to destruction. It was he who offered vast wages to English and foreign players to come and play in Scotland, knowing full well that Rangers COULD NOT afford these sums.He and DAVID MURRAY must be held accountable for the demise of Rangers.
P-E-N-I-S don't make me LOL any more you and Moonbeams started the Rot. Did you see Cragie the Ex Millionaire, outside Greyskull last night addressing the combined residents of The Bellvue and The Great Eastern. He looked like a scared Rabbit caught in the Headlights. I was surprised at his pathetic effort at speaking in Public as I thouht he would've gained plenty of experience from his plethora of Court Apperances. Also check out his picture in to-day's Daily Ranger, where does he get his Suits, is Gilt Edge still open, looks like he presses his trousers with an Accordian, for the benifit of the ORC'S thats the wee box you play in the ORC'S walk on the 12th
Mr souness please report back to base your mission has been sucessfully completed. OVER.
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