Craig Whyte has been banned for life from any involvement in Scottish football and a 12-month transfer embargo has been given to Rangers.
Struggling club handed 12-month transfer embargo
Rangers owner Craig Whyte has been banned for life from any involvement in Scottish football and a 12-month transfer embargo has been imposed on the club by the Scottish Football Association.
The two punishments came as a series of penalties handed out by the SFA on Monday night.
The transfer embargo strikes a massive blow to the floundering club, who have been in administration since February 14th and were deducted 10 points in the Scottish Premier League.
Fined
Rangers have also been fined a total of £160,000 while Whyte, who had already been deemed unfit to hold an official position in the game by the SFA, was handed fines totalling £200,000.
The SFA said their judicial panel would issue reasons for their findings in "early course" while both parties have three days to appeal following receipt of those reasons.
Duff and Phelps, joint administrators of Rangers Football Club, condemned the ruling as "draconian" in a statement on Monday night.
Paul Clark, joint administrator, said: "All of us working on behalf of the Club are utterly shocked and dismayed by the draconian sanctions imposed on Rangers in respect of these charges.
"It appears that on one hand the disciplinary panel accepted our central argument that responsibility for bringing the Club into disrepute lay with the actions of one individual - Craig Whyte - as is evident from the unprecedented punishment meted out to him.
"During this hearing the Club produced compelling evidence from a number of sources that following his takeover, Craig Whyte ran the Club in a thoroughly unaccountable manner, rather than adhering to a long-established and proper form of corporate governance.
"The thrust of the charges against the Club focused on non-payment of payroll taxes and evidence was produced that all such decisions in this area were taken by Craig Whyte during his tenure.
"Given this evidence, it is difficult to comprehend that the disciplinary panel has seen fit to effectively punish the Club even more heavily than Mr Whyte. As everyone knows, it has already been decided he is not a fit and proper person to run a football club and any further punishment on him will have little or no impact.
"However, for Rangers, a ban on signing players will seriously undermine the Club's efforts to rebuild after being rendered insolvent.
"Furthermore, we do not know how bidders for the Club will react to these sanctions and what affect they will have on their proposals.
"The Club has asked for full written reasons for these decisions and intend to appeal against the findings."
Whyte was defiant when asked for his reaction to the punishment on him and Rangers.
Joke
He said: "Tell me how it is going to affect me? I couldn't care less. It makes no difference to my life whatsoever - and good luck collecting the money.
"It's a joke.
"It is very harsh on Rangers. I am surprised at how harsh the SFA have been on a club which is going through tough times at the moment.
"Stewart Regan (chief executive) and Campbell Ogilvie (president) should resign and get out of Scottish football.
"The SFA want to kick Rangers when they are down and I hope people remember that. They are playing to the media."
