'Worrying times' for Rangers FC amid financial strife
Rangers Football Club has lodged legal papers signalling its intention to go into administration.
The Ibrox club lodged papers at the Court of Session in Edinburgh on Monday, notifying an intention to declare an administrator.
It now has five days to confirm whether administrators have been appointed to take over the running of the club.
The BBC's James Cook says that fans will be deeply worried, but that the club is a "valuable asset" that will surely "survive in some form as a going concern".
13 Feb 2012