Rangers were dramatically kicked out of Scottish football's Premier League after rival clubs voted overwhelmingly to exclude the ailing Glasgow giants.
The soon-to-be-liquidated Ibrox club had applied to rejoin the league next season after reforming as a new company but their request was turned down following a vote of the other clubs which make up the Scottish top flight.
It caps a humiliating fall from grace for the most successful club in Scottish football, who were plunged into crisis earlier this year after entering administration following a tax dispute.
It was not immediately clear where Rangers' new incarnation will begin life next season. One option under consideration is to start in the First Division - the league below the SPL - though it's possible they'll have to work their way up from the Third Division.