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The newspaper headlines in Glasgow say it all: "RIP RFC" and "The day the taxman finally buried Rangers".

One of the UK's biggest football clubs is going to be liquidated because of its financial problems.

It means a new Rangers FC will have to start in its place.

Other clubs are set to vote on whether the new team will be allowed back into SPL next season. If not, Rangers could be playing teams like Elgin and Queen's Park in the third division.

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Newsbeat's spoken to fans in Glasgow to see what they think of the situation.

The Rangers fan - Ben McLean, 16

"It will ruin Scottish football if they don't let us stay. It just wouldn't be the SPL without Rangers.

"We'll come back if we go down but it shouldn't come to that. We should be punished, but we shouldn't be put in division three.

"I'll still go to watch though, whatever league we're in."

The Celtic fan - Maxine McAllister, 22

"Of course I've laughed about it. I'm happy but not happy really, because without Rangers there's no Old Firm and there's no rivalry.

"They've had plenty of chances. The management knew what they had to do and they haven't done it."

Maxine agrees Rangers should be kicked out of the SPL: "They'll learn from it and they won't do it again."

The Motherwell fan - Lewis Peacock, 16

"I think they are getting what they deserve. If you can't pay your bills you have to suffer the consequences."

He also wants to see Rangers in the third division: "I can definitely tell you that most fans would chuffed about that.

"Also, there have been problems between Rangers and Celtic in the past, so some people would be glad to see them in different divisions."

Lewis says the SPL could be a success without Rangers: "You've got teams like Celtic and Motherwell who are doing well.

"We could still bring in the TV money."