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===Insolvency and the lower leagues=== On 1 June 2012, after four months in administration, a failure to reach a [[Company voluntary arrangement|CVA]] agreement with [[creditor]]s led to The Rangers Football Club plc (since renamed <nowiki>RFC 2012</nowiki> plc)<ref name="RFC 2012 PLC">{{cite web|url=http://data.companieshouse.gov.uk/doc/company/SC004276|title=RFC 2012 P.L.C.|work=Companies House|publisher=UK Government|access-date=22 December 2012|quote=IncorporationDate 27/05/1899<br />PreviousNames<br />CONDate 31 July 2012<br />CompanyName THE RANGERS FOOTBALL CLUB P.L.C.|archive-url=https://web.archive.org/web/20131101174610/http://data.companieshouse.gov.uk/doc/company/SC004276|archive-date=1 November 2013|url-status=live}}</ref> entering the process of liquidation.<ref>[https://www.telegraph.co.uk/sport/football/teams/rangers/9327256/Rangers-in-crisis-the-final-whistle-sounds-on-Rangers-140-years-of-history.html Rangers in crisis: the final whistle sounds on Rangers' 140 years of history] ''The Daily Telegraph''. Retrieved 26 March 2013.</ref> The administrators completed a sale of the business and assets to [[Phoenix club (sports)|a new company]], Sevco Scotland Ltd (which later renamed itself The Rangers Football Club Ltd), though most first-team players refused to transfer across.<ref name="Rangers company enters liquidation">{{cite web|url=http://www.rangers.co.uk/index.php/club/administrators-information/item/download/28_7fc3a3f0da9d1df61b3d05625e9468ef|title=Interim Report to Creditors|work=Duff and Phelps|publisher=Rangers F.C.|format=pdf|date=10 July 2012|quote=The continuation of trading operations enabled the Joint Administrators to put the CVA Proposal to the creditors of the Company and after the CVA Proposal was rejected by creditors, the Joint Administrators were able to secure a going concern sale of the business, history and assets of the Company to Sevco|archive-url=https://web.archive.org/web/20120827020746/http://www.rangers.co.uk/index.php/club/administrators-information/item/download/28_7fc3a3f0da9d1df61b3d05625e9468ef|archive-date=27 August 2012|url-status=dead|access-date=31 August 2012}}</ref><ref name="Lord Nimmo Smith Commission">{{cite web|url=http://spfl.co.uk/news/article/commission-decision-2013-02-28/mediaassets/doc/Commission%20Decision%2028%2002%202013.pdf|title=Lord Nimmo Smith Commission|publisher=Scottish Professional Football League|date=28 February 2013|quote=On 14 June 2012 a newly incorporated company, Sevco Scotland Limited, purchased substantially all the business and assets of Oldco, including Rangers FC, by entering into an asset sale and purchase agreement with the joint administrators.|access-date=25 November 2014|archive-url=https://web.archive.org/web/20141219023336/http://spfl.co.uk/news/article/commission-decision-2013-02-28/mediaassets/doc/Commission%20Decision%2028%2002%202013.pdf|archive-date=19 December 2014|url-status=dead}}</ref> The new company failed to secure the transfer of Rangers' previous place in the Scottish Premier League,<ref name="Newco refused spl admission">{{cite news|url=https://www.bbc.co.uk/sport/0/football/18703183|title=Rangers newco refused SPL entry after chairmen vote|work=BBC Sport|date=4 July 2012|access-date=20 December 2012|quote=BBC Scotland has learned that 10 of the 12 clubs were in opposition, with Kilmarnock abstaining and Rangers voting in favour.|archive-url=https://web.archive.org/web/20121114102205/http://www.bbc.co.uk/sport/0/football/18703183|archive-date=14 November 2012|url-status=live}}</ref> but were later accepted into the [[Scottish Football League]]. Rangers were awarded associate membership and placed in the lowest division, the Third, rather than the First Division as the SPL and SFA had sought.<ref>[http://www.dailyrecord.co.uk/sport/football/rangers-in-crisis-ibrox-newco-to-play-1166724 Rangers in crisis: Ibrox newco to play in Third Division after SFL clubs vote] Daily Record, 13 July 2012.</ref> The transfer of Rangers' SFA membership was agreed by the SFA upon acceptance of a number of conditions, including a one-year transfer ban, in time for the club to begin the [[2012β13 Rangers F.C. season|2012β13 season]].<ref name="SFA membership transferred">{{cite web|title=Agreement on Transfer of Membership|url=http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=2986&newsID=10252&newsCategoryID=1|date=27 July 2012|publisher=Scottish Football Association|access-date=30 July 2012|quote=We are pleased to confirm that agreement has been reached on all outstanding points relating to the transfer of the Scottish FA membership between Rangers FC (In Administration), and Sevco Scotland Ltd, who will be the new owners of The Rangers Football Club.|archive-url=https://web.archive.org/web/20120802012743/http://www.scottishfa.co.uk/scottish_fa_news.cfm?page=2986&newsID=10252&newsCategoryID=1|archive-date=2 August 2012|url-status=live}}</ref> With most key Rangers players having refused to transfer to the new company, a very different Rangers team lined up for the first league match in the [[Scottish League Two|Third Division]] though it secured a comfortable 5β1 victory over [[East Stirlingshire F.C.|East Stirlingshire]] in front of a crowd of 49,118, a [[world record]] for a football match in a fourth tier league.<ref name="World record fourth tier attendance">{{cite news|url=http://www.smh.com.au/sport/soccer/fourthtier-rangers-shatter-world-record-20120819-24gfv.html|title=Fourth-tier Rangers shatter world record|work=The Sydney Morning Herald|date=19 August 2012|access-date=19 August 2012|quote=Rangers manager Ally McCoist paid tribute to the troubled club's fans after 49,118 packed into Ibrox to watch Saturday's 5β1 thrashing of East Stirling, a world record attendance for fourth-tier football.|archive-url=https://web.archive.org/web/20131207051918/http://www.smh.com.au/sport/soccer/fourthtier-rangers-shatter-world-record-20120819-24gfv.html|archive-date=7 December 2013|url-status=live}}</ref>{{#tag:ref|However this attendance was unofficially exceeded prior to this match in Brazil. But this attendance was not officially recorded.<ref name="Unofficial record">{{cite web|url=http://www.rsssfbrasil.com/miscellaneous/attbrasd.htm|title=Best attendances of Brazilian Championship of 4th Level|publisher=RSSSF Brasil|access-date=22 August 2012|quote=1 Santa Cruz (PE) 0 Γ 0 Treze (PB), 59.966, 16/10/2011, EstΓ‘dio do Arruda|archive-url=https://web.archive.org/web/20120802222417/http://www.rsssfbrasil.com/miscellaneous/attbrasd.htm|archive-date=2 August 2012|url-status=live|language=pt}}</ref>|group="n"}} Away from home, Rangers started their league campaign with three successive draws before losing 1β0 to [[Stirling Albion F.C.|Stirling Albion]], at the time the bottom club in the country.<ref name="Rangers away form poor in 3rd division">{{cite news|title=Stirling Albion 1β0 Rangers|url=https://www.bbc.co.uk/sport/0/football/19857024|date=6 October 2012|work=BBC Sport|quote=Rangers suffered a shock first loss in the Third Division after crashing to defeat against bottom side Stirling Albion.|archive-url=https://web.archive.org/web/20121116003707/http://www.bbc.co.uk/sport/0/football/19857024|archive-date=16 November 2012|url-status=live}}</ref> Rangers were defeated in the third round of the [[2012β13 Scottish Challenge Cup|Scottish Challenge Cup]] by [[Queen of the South F.C.|Queen of the South]] at Ibrox,<ref name="Rangers beat by queen of south in cup">{{cite news|title=Ramsdens Cup: Rangers 2β2 Queen of the South (3β4 pens)|url=https://www.bbc.co.uk/sport/0/football/19629218|author=Lindsay, Clive|work=BBC Sport|date=18 September 2012|access-date=18 September 2012|quote=Rangers made a shock exit in the Ramsdens Cup after a penalty shoot-out defeat by Queen of the South at Ibrox.|archive-url=https://web.archive.org/web/20121109014656/http://www.bbc.co.uk/sport/0/football/19629218|archive-date=9 November 2012|url-status=live}}</ref> in the quarter-finals of the [[2012β13 Scottish League Cup|Scottish League Cup]] at home to [[Inverness Caledonian Thistle F.C.|Inverness Caledonian Thistle]]<ref name="Rangers out of cup to inverness caley">{{cite news|url=https://www.bbc.co.uk/sport/0/football/20053656|title=Rangers 0β3 Inverness Caley Thistle|work=BBC Sport|author=Lamont, Alasdair|author-link=Alasdair Lamont|date=31 October 2012|quote=Inverness Caledonian Thistle advanced to the semi-finals of the Scottish Communities League Cup for the first time with an ultimately comfortable defeat of Rangers.|archive-url=https://web.archive.org/web/20121123063304/http://www.bbc.co.uk/sport/0/football/20053656|archive-date=23 November 2012|url-status=live|access-date=4 November 2012}}</ref> and in the fifth round of the [[2012β13 Scottish Cup|Scottish Cup]] by Dundee United.<ref>[https://www.bbc.co.uk/sport/0/football/21209424 Dundee United 3β0 Rangers] BBC, 2 February 2013.</ref> Rangers beat their own new record against [[Queen's Park F.C.|Queens Park]] with an attendance of 49,463<ref name="Rangers beat there own 4th tier world record">{{cite news|url=https://www.theguardian.com/football/match/2012/oct/20/rangers-v-queenspark|title=Rangers v Queen's Park Match facts|work=The Guardian|date=20 October 2012|access-date=22 December 2012|quote=Attendance 49,463|archive-url=https://archive.today/20130420210303/http://www.guardian.co.uk/football/match/2012/oct/20/rangers-v-queenspark|archive-date=20 April 2013|url-status=live}}</ref> and again against Stirling Albion with an attendance of 49,913.<ref name="Rangers beat their record again">{{cite news|url=http://www1.skysports.com/football/live/match/272760/form|title=THE IRN-BRU SCOTTISH THIRD DIVISION|publisher=Sky Sports|date=8 December 2012|access-date=22 December 2012|quote=IBROX STADIUM (ATT 49,913)|archive-url=https://web.archive.org/web/20121104172538/http://www1.skysports.com/football/live/match/272760/form|archive-date=4 November 2012|url-status=live}}</ref> Rangers clinched the [[2012β13 Scottish Third Division|Third Division]] title on 30 March after a goalless draw at [[Montrose F.C.|Montrose]]. Apart from being defeated 2β1 by [[Forfar Athletic F.C.|Forfar Athletic]] in the first round of the [[2013β14 Scottish League Cup|League Cup]] on 3 August, [[2013β14 Rangers F.C. season|season 2013β14]] got off to an excellent start with Rangers winning maximum league points in their first 15 games in [[Scottish League One|League One]], before being held to a draw at home by [[Stranraer F.C.|Stranraer]] on Boxing Day 2013. Rangers secured the [[2013β14 Scottish League One|League One]] title and promotion to [[Scottish Championship|Scottish football's second tier]] on 12 March 2014 and went on to end the season unbeaten in league football.<ref>[http://sport.stv.tv/football/clubs/rangers/268342-rangers-clinch-scottish-league-1-title-after-3-0-win-over-airdrieonians/ Rangers clinch Scottish League 1 title after 3β0 win over Airdrieonians] {{Webarchive|url=https://web.archive.org/web/20140413141212/http://sport.stv.tv/football/clubs/rangers/268342-rangers-clinch-scottish-league-1-title-after-3-0-win-over-airdrieonians/ |date=13 April 2014 }} stv.tv. Retrieved 10 April 2014.</ref> Rangers also reached the final of the [[2013β14 Scottish Challenge Cup|Scottish Challenge Cup]], in which they lost to [[Raith Rovers F.C.|Raith Rovers]]<ref>[https://www.bbc.co.uk/sport/0/football/26807030 Raith Rovers 1:0 Rangers] BBC. Retrieved 10 April 2014.</ref> and the semi-final of the [[2013β14 Scottish Cup|Scottish Cup]], in which they lost 3β1 at Ibrox to Dundee United. Playing in the [[Scottish Championship]] in [[2014β15 Rangers F.C. season|season 2014β15]] provided Rangers with a more difficult challenge, with the club losing home and away to both Hibernian<ref>[https://www.bbc.co.uk/sport/0/football/29305945 Rangers 1:3 Hibernian] BBC, 29 September 2014.</ref><ref>[https://www.bbc.co.uk/sport/0/football/30559314 Hibs 4:0 Rangers] BBC.co.uk 27 December 2014.</ref> and Hearts<ref>[https://www.bbc.co.uk/sport/0/football/28647379 Rangers 1:2 Hearts] BBC, 10 August 2014.</ref><ref>[https://www.bbc.co.uk/sport/0/football/30066072 Hearts 2:0 Rangers] BBC, 22 November 2014.</ref> and also losing away to Queen of the South<ref>[https://www.bbc.co.uk/sport/0/football/30340965 Queen of the South 2:0 Rangers] BBC, 12 December 2014.</ref> in the first half of the season. Rangers also failed to beat Alloa either home or away in the league before losing 3β2 to Alloa in the semi-final of the [[2014β15 Scottish Challenge Cup|Scottish Challenge Cup]].<ref>[https://www.bbc.co.uk/sport/0/football/30021373 Alloa 3:2 Rangers] BBC 9 December 2014.</ref> Amid mounting criticism,<ref>[http://www1.skysports.com/football/news/11788/9609846/spfl-ally-mccoist-due-to-meet-rangers-board-today SPFL: Ally McCoist due to meet Rangers board on Wednesday] Skysports, 17 December 2014.</ref> McCoist submitted his resignation intending to honour his 12 months notice period but was placed on [[gardening leave]] and replaced by [[Kenny McDowall]] on a caretaker basis.<ref>[https://www.bbc.co.uk/sport/0/football/30571507 Ally McCoist: Rangers manager leaves club & on gardening leave] BBC News 21 December 2014.</ref> McDowall remained in charge for just three months before resigning in March 2015. During his time in charge, Rangers won just three matches. Rangers then named former player [[Stuart McCall]] as their third manager of the season for the remaining fixtures.<ref>{{cite news|url = https://www.bbc.co.uk/sport/0/football/31839589|title = Rangers: Stuart McCall appointed manager until summer|date = 12 March 2015|access-date = 9 May 2015|work=BBC Sport}}</ref> Under McCall, Rangers finished third in the league and then reached the Premiership play-off final, which they lost 6β1 on aggregate to Motherwell.<ref>[https://www.bbc.com/sport/live/football/32934323 "Motherwell 3β0 Rangers"] β BBC Sport, 31 May 2015.</ref>
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