Managers express disbelief and sadness at Rangers’ plight

The concerned Aberdeen manager said: “Down south and across Europe they must be shaking their heads in disbelief to see Rangers, a great institution, in such trouble.”

Hearts manager Paulo Sergio added: “I hope they find a solution because I believe Scottish football needs a strong Rangers.”

St Johnstone manager Steve Lomas recently criticised Rangers over their attempts to sign his striker Francisco Sandaza, comparing the current boardroom regime unfavourably to that of Sir David Murray.

Lomas said: “No-one should take any pleasure from Glasgow Rangers being in this situation but maybe it’s a warning to all clubs that football is a business and you have to run business right.”

Lomas’ predecessor, Bristol City boss Derek McInnes, believes Rangers are too big to fold.

The former Rangers midfielder said: “The club is too big and has too many people behind it to see it die.

“I’m sure they’ll do what’s right for it now.

“It’s a difficult situation for my pal Ally McCoist now, all the focus is on the off-field stuff.”

Ajax coach Frank de Boer - who had a short spell at Ibrox as a player in 2004 - believes the plight of his former club will be felt across the continent, with other clubs also struggling financially.

He said: “It’s very sad for Scottish football, and also European football, to see such a big name (in trouble).

“As an ex-Rangers player it’s very sad.

“It’s not the first club to get in a mess and all of Europe is a little bit like this at other clubs.”