Bankrupt Rangers FC Officially Enter Financial Administration

Rangers FC have officially entered administration, creating a mess that won't only affect the club, but that will negatively affect the Scottish Premier League as a whole.

Per Soccernet:

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Rangers appointed administrators Duff and Phelps on Tuesday after a court battle with Her Majesty's Revenue & Customs.

Rangers were given an ultimatum to move into administration at the Court of Session in Edinburgh 24 hours after lodging notice of intent.

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Later in the article:

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The Scottish Premier League champions, who have fallen 14 points behind leaders Celtic as a result of the decision, are awaiting the verdict of a tax tribunal which owner Craig Whyte claims could cost them £75 million.

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Rangers are the SPL's most successful club, but they have suffered a major setback that will affect them both now and going forward. Entering administration has resulted in a 10-point penalty in the league table, which means Celtic is pretty much a lock to win the Scottish title. The financial mess at Rangers could also allow Celtic to dominate the league for many years to come.

Bringing talent to the Rangers from the outside will now be a real challenge for the club since they have no money to spend on much of anything, especially new transfers.

In an era when so many clubs are spending huge amounts of money on transfers, it's important to note that spending tons of funds on transfers can have significant consequences, especially when huge signings don't play well and the club cannot benefit financially on and off the pitch.

The news of Rangers FC entering administration does not look good for the SPL, and it won't help players decide to go to the country to play football when the financial health of the league's most successful club is terrible.