Claudio Caniggia has expressed surprise and disbelief at the extent of the problems currently engulfing Rangers after hailing his spell at Ibrox as one of the highlights of his glittering career.
The former Argentina striker spent two years at the Glasgow giants between 2001 and 2003, during which time he established himself as a firm fans' favourite.
"When I found out about the situation of Rangers, I never expected the club was going to almost disappear or be as serious as it is," he told Press Association Sport. "It is very sad. I had a great time in Glasgow at the club. It is one of the best clubs."
He admits he is now finding recent events at his former club difficult to comprehend as Rangers stumble from one crisis to another after they were forced into administration over an unpaid tax bill in February.
Caniggia, who has been signed by Wembley FC, told Press Association Sport: "I was 34 when I went there but it was one of the best experiences for me as a football player.
"I say that, having played in three World Cups for Argentina and I played in very big teams like Boca Juniors and River Plate.
"I was at the end of my career but I was still fit. Rangers was great. They had some great players."
Failure to secure a Company Voluntary Arrangement (CVA) in order to exit administration consigned the club to liquidation last week.
The business and assets of Rangers were then purchased by a consortium fronted by former Sheffield United chief executive Charles Green for £5.5million.
However, the new regime faces a battle to see newco Rangers granted entry into the Scottish Premier League. Their application will be voted on by all 12 top-flight clubs on July 4, with Hearts and Dundee United having already indicated they will reject Rangers' bid.