Scottish Premier League side Glasgow Rangers have gone into administration with immediate effect.
The Gers were given a deadline of 3.30pm earlier today by Lord Menzies at a Court of Sessions in Edinburgh to appoint an administrator.
Rangers managed to beat that deadline by 40 minutes, having chosen Duff and Phelps as the company to take over the day-to-day running of the club.
As a result, HM Revenue and Customs have withdrawn their application to appoint an administrator of their choice.
Rangers will now be handed a ten-point deduction, leaving them 14 points behind league leaders and rivals Celtic.