Sir David Murray sold his majority shareholding in Rangers Football Club to Craig Whyte on May 6, 2011, for £1.

After owning the Ibrox side for 23 years the steel magnate stepped down to allow new investment in the club, which was embroiled in a multi-million pound tax case.

Mr Whyte was appointed Rangers chairman and claimed he was "very much looking forward to guiding and assisting Rangers in its development over the coming years".

The team was placed in administration 285 days later after failing to pay £9m in PAYE, national insurance and VAT tax since Mr Whyte's takeover.

Duff and Phelps remain in charge of Rangers and believe only a new owner can secure the club's future.

• May 6 2011 Craig Whyte announced as new owner of Rangers
• May 15 Rangers clinch SPL title on last day of season
• May 24 Rangers suspend directors Martin Bain and Donald McIntyre over contract
• August 11 Sheriff officers visit Rangers over tax bill dispute
• September 9 'Insolvency fear' as Rangers pay £35,000 owed to law firm
• September 13 Judge freezes £500,000 Rangers' assets over fears of ‘insolvency’
• September 23 Judge spells out ‘real and substantial risk’ of insolvency for Rangers
• September 28 Craig Whyte: Administration at Rangers is 'obvious' if club loses tax case
• October 10 Rangers finance director resigns from board
• October 17 John Greig and John McClelland resign from Rangers board
• October 20 Craig Whyte interview: Rangers board 'doing all it can' to avoid administration
• November 7 Rangers Football Club's £49m tax tribunal under way
• November 30 Rangers FC reveal first annual accounts since Craig Whyte takeover
• December 1 Rangers FC owner Craig Whyte confirms his directorship ban
• December 9 Rangers FC settle £300,000 damages claim with former director Donald McIntyre
• January 9 2012 Rangers suspended from stock exchange for failing to file accounts
• January 16 Rangers FC's £49m tax and penalties case resumes
• January 18 £49m tax case against Rangers concludes
• January 20 Andrew Ellis appointed to Rangers board
• February 1 Rangers supporters raise concerns over deal to fund club using future season ticket sales
• February 7 Rangers chairman Craig Whyte rejects allegations he may have lied in court
• February 10 Ex-Rangers owner Murray seeks 'clarification' over finances since Whyte takeover
• February 13 Rangers intend to go into administration
• February 14 Rangers go into administration after failing to pay £9m tax since Whyte takeover
• February 16 First Minister claims Celtic 'will not prosper' if Rangers go under
• February 17 Rangers owner Craig Whyte faces SFA and police probes as he insists 'no criminality'
• February 21 Rangers owner Craig Whyte admits using £24m season ticket cash to fund takeover
• February 23 Gordon Smith and Ali Russell made redundant by Rangers
• February 24 Rangers fail to pay match-day policing bills
• February 27 Rangers fined £50,000 over Craig Whyte's director ban
• March 1 Rangers' 'best outcome' is to find new owners says Ticketus
• March 2 Rangers administrators seize £3.6m from Craig Whyte's lawyers
• March 5 Rangers players fail to reach agreement over 'substantial' pay cuts to save jobs
• March 8 'No sign' that Craig Whyte has paid any money into Rangers
• March 8 Rangers in court battle with Craig Whyte's lawyers over £3.6m to keep club afloat
• March 12 'Blue Knights' consortium in talks with Rangers administrators over takeover
• March 13 Crisis-hit Rangers launch fans fund to help club
• March 16 Three submit initial takeover bids for crisis-hit Rangers
• March 20 Rangers crisis: Fourth bid received by administrators
• March 21 Rangers crisis: Rugby club owner at Ibrox for administrator talks
• March 23 Rangers crisis: Ticketus deal stands as administrators fail to win legal guidance
• March 25 Fifth bidder for Rangers announced
• March 29 Martin Bain drops £1.3m legal case against Rangers
• March 29 Brian Kennedy 'disappointed' as Rangers bid is rejected
• April 3 Craig Whyte in new move to strengthen hold over Rangers
• April 4 Rangers administrators say they have received four 'final' bids for club
• April 5 Rangers crisis: Administrators reveal club could owe up to £134m
• April 13 Rangers crisis: Administrators claim three bidders still in running despite SPL plans
• April 16 Craig Whyte: 'Rangers bidders will have to thrash out takeover with me'
• April 18 Rangers administrators sue Craig Whyte’s company in £25m legal action
• April 19 Brian Kennedy’s latest bid for Rangers rejected by administrators
• April 20 American tow-truck businessman submits £11.2m bid for troubled Rangers
• April 20 Rangers crisis: Singapore group led by Bill Ng withdraws bid for club
• April 23 Rangers owner Craig Whyte fined £200,000 and banned from Scottish football for life
• April 23 Rangers fined £160,000 and hit with player registration ban by SFA
• April 24 Craig Whyte: ‘I should have put Rangers into administration in October’
• April 25 Members of SFA panel receive threats after Rangers punishment decision
• April 27 Blue Knights and Brian Kennedy submit conditional bid for crisis-hit Rangers

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• Scottish FA take ex-Rangers owner Craig Whyte to court over fine
• QC appointed to oversee inquiry into Rangers and Craig Whyte links
• Rangers commercial director Imran Ahmad leaves the Ibrox club