Rangers have lost their appeal against a 12-month transfer embargo and £160,000 fine. The Gers were punished by a Scottish Football Association judicial panel last month but had hoped to overturn the decision at Wednesday's appellate tribunal hearing.

Administrators Duff and Phelps hit back have hit back to register their disappointment at the ruling.

Paul Clark, joint administrator, said: "The decision by the appellate tribunal to uphold the sanction, namely the suspension of registration of players for one year, is not competent in the view of the club and its legal advisers.

"Such a sanction was not available to the tribunal and should not have been imposed and it is the intention of the club to challenge the determination.

"The club will consider seeking review of this most disappointing decision and it is a matter of regret that the certainty and finality Rangers sought on this matter has not been achieved. Everyone at Rangers is bitterly disappointed and dismayed at this outcome."

Charles Green, the former Sheffield United chief executive at the head of the consortium that has agreed to purchase the club has backed any future appeal.

"Our group went into the purchase of the club with this sanction in place but we hoped the decision would at least be commuted,'' he said.

"We fully support the club as it considers an appeal against this latest decision.''

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