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Rangers wait on SPL rules change vote
Rangers face another day awaiting news that could have a major bearing on their future as Scottish Premier League clubs meet again to discuss financial fair play proposals.
SPL clubs have twice adjourned a vote on potential sanctions for newcos as they wait for some semblance of clarity on Rangers' situation. The previous meeting was May 7, when Rangers' administrators requested more time.
A vote is due on amended rules that would see clubs in administration lose at least 10 points - cut from the original proposal of 15 - or a third of their previous season's tally, whichever is greater.
The proposed rule changes would also see clubs who undergo an "insolvency transfer" docked 10 points for two seasons and lose 75% of their income for three years.
The last meeting was postponed just over three weeks ago, but since then Bill Miller pulled out of a deal for Rangers and Charles Green signed an exclusive purchase agreement before putting an offer to creditors on Tuesday.
SPL chief executive Neil Doncaster has been arguing there is little difference between a CVA and newco and another adjournment on that topic is highly possible.
The clubs are due to vote on a number of other issues though, including making it an offence not to pay players or the taxman on time.
Clubs are also due to vote on changes to the voting structure with the non-Old Firm clubs needing the support of one of the Glasgow pair to effect a new 75% majority rule for all decisions as opposed to the current 11-1 needed for major reform.
There is also a resolution which would mean the decision on admitting a newco club, which would currently be taken by the SPL board, would be made by the members.
The meeting comes a day after Rangers' administrators published the Company Voluntary Arrangement proposal put forward by Green's consortium. It emerged the vast bulk of the £8.5million put forward by Green's group is in the form of a loan while administrators Duff and Phelps are due £5.5million before any money is paid to creditors.