[NBC]

Originally Posted by Bagor

What's not to like? When they went into liquidation they essentially ceased to exist as a registered member of the SFA.

The newly formed company/club can't automatically inherit a terminated registration and must rejoin the league. Why should they join at the top tier?

Technically speaking Rangers FC that was formed in 1872 has ceased to exist.

This:

Ahead of Friday's SFL meeting, the SFA and SPL had promised reorganisation of the leagues and redistribution of income in return for Rangers being placed in Division One. The chief executives of both those governing bodies had warned of dire financial consequences should Rangers be placed in the bottom tier.

SPL clubs will also be looking to discover further details of the predicted commercial losses resulting from the loss of Rangers.

Contracts reportedly have an exit or renegotiation clause should either Celtic or Rangers be absent and the television deals. Sky and ESPN were due to sign an £80m five-year deal this summer, although their existing £13m annual contract has a year left to run. SPL chief executive Neil Doncaster told SFL clubs that a total of £18.7m would be lost to the SPL if the Third Division option was taken, all but £1m from broadcasting deals.

Doncaster has apparently valued TV revenue at just £3m if the Rangers newco was made to start in the Third Division, but Sky Sports has maintained its silence while ESPN has said it wants "to have a continued relationship with Scottish football".