The Crown Office announced today that a probe into the purchase of the club from Sir David Murray and the subsequent management of Rangers will be carried out.
A Crown Office spokesman said: "The procurator fiscal for the west of Scotland will now work with Strathclyde Police to fully investigate the acquisition and financial management of Rangers Football Club and any related reports of alleged criminality during that process."
Rangers Chairman Malcolm Murray said: “The board’s priority is to rebuild the Club for the future and we are 100% focused on that task.
“We welcome any investigation that examines events at the Club and will offer every assistance if required.
“The rank and file Rangers fans are blameless. Rightly, they want answers and for those responsible for the Club’s fate in recent times to be held to account. Hopefully this investigation will assist in this regard.”
David Whitehouse, joint administrator, said: “We provided initial documentation to Strathclyde Police very shortly after our appointment as administrators on February 14 and have had a number of conversations with the police since then.
“Both in our role as administrators, and previously in our role as advisors, we have fulfilled all our obligations in keeping relevant authorities informed of any developments pertinent to their jurisdictions.
“As court appointed administrators, we will continue to provide our full assistance in the investigation process and welcome this development.”