Rangers will not be stripped of their titles following the verdict of Lord Nimmo Smith’s independent commission appointed by the Scottish Premier League.
However, the company that formally ran the club have been fined £250,000.
It had been claimed Rangers failed to declare all payments made to players while they were operating an Employee Benefit Trust scheme between 2001 and 2011.
In that time, they won 5 SPL titles.
Rangers Chief Executive Charles Green had been against the commission from the start and was prepared to challenge had the club been stripped of titles.
The fine will be paid by the ‘Oldco’ company rather than the one that currently owns the club.