Rangers owner Craig Whyte has said it is "obvious" the club will go into administration if they lose the tax case, but insists the SPL champions will not go under.
In an interview with the Daily Telegraph newspaper, Mr Whyte also spoke of his ambition to take Rangers out of the Scottish Premier League to secure the club’s long-term sustainability.
The venture capitalist said he believes the Glasgow club will win the case against the Her Majesty’s Revenue and Customs in November, but administration would probably happen if they don’t.
Asked about administration, which would mean an automatic ten-point penalty in the SPL, he told the newspaper: "It is one of the possibilities we have looked at, yes. The choice, in terms of an adverse finding, is pretty obvious really.
"Whatever happens Rangers will be moving forward. I will not allow the club to go bust. I can control the debt process absolutely, and whatever happens Rangers is going to be there playing in the SPL at Ibrox."
The newspaper reports Whyte bought Rangers from the club’s former owner Sir David Murray for £1 in May. Following the purchase, he assumed responsibility for the club’s £18m bank debt to Lloyds as well as tax liabilities.
The debt has since been transferred from the bank to a holding company owned by Mr Whyte, effectively making the Rangers owner the club’s main creditor. This, he claims, puts Mr Whyte and the club in a position of power if the club loses the tax case, which could blow a reported £49m hole in Rangers' finances.
Mr Whyte states in the interview: "Nothing is out of my hands because I control the club, I am the only secured creditor, or rather Rangers FC Group is. So on any decision, while HMRC might push, the group company controls the debt."
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