GLASGOW, Scotland (AP) – Scottish champion Glasgow Rangers says the club intends to go into administration, placing the future of the country's most successful team in jeopardy.
The team, which has won the Scottish title a record 54 times, has lodged legal papers with an Edinburgh court indicating it wants to be taken over by administrators to avoid liquidation because of its financial problems. Administration is the British form of bankruptcy.
Rangers are awaiting the verdict from a tribunal with Britain's tax authorities that could leave the club with an estimated tax bill of 49 million pounds ($77 million).
By going into administration, Rangers will automatically be deducted 10 points. The team is currently four points behind Glasgow Celtic in the Scottish Premier League standings.