The Scottish Premier League has denied Rangers permission to complete the signing of veteran striker Daniel Cousin on a free transfer.
Cousin had agreed to return to Ibrox earlier this week after he had watched the club's victory over Dunfermline Athletic last weekend.
The Gabon international had most recently been playing in his homeland prior to the Africa Cup of Nations and was hoping to rejoin Rangers after impressing for the club in the 2007/08 season.
However, a last minute amendment to the 35-year-old's contract ensured that the deal was not finalised prior to Rangers entering administration.
A statement read: "The SPL was at 3.26pm today presented with a contract between Daniel Cousin and Rangers FC dated 17 February 2012, signed by the player and by Paul Clark, the joint administrator of The Rangers Football Club plc (in Administration).
"In terms of SPL rule A6.20, the consent of the board of the SPL was required for the registration of the player with the SPL. The board of the SPL declined to give that consent.
"Accordingly the player is not registered with the SPL and is not eligible to play in SPL matches.
"Rangers FC have the right to appeal this decision to the judicial panel of the Scottish FA."
Speaking earlier on Friday, prior to the SPL's decision to block the move, Gers boss Ally McCoist revealed that Cousin had been left 'shell-shocked' by the turn of events at the reigning champions.
McCoist said: "Daniel Cousin is shell-shocked at the moment, like the rest of us.
"At this moment in time he is in the squad for tomorrow and still has an opportunity of getting the signing through. I'm still very hopeful we can get through the bits of red tape.
"The players still want Daniel to come, we still want Daniel to come and the supporters want Daniel to come. Most importantly, Daniel still wants to be involved here."
Cousin must now look elsewhere for a new club, with his agent having admitted earlier in the week that there is interest from England.