Its sad that has happened. There will be a lot of Rangers fans upset by this. It nearly happened to Celtic but Fergus McCann invested in the team.I wish Rangers well and hope to see them in the Scottish Premier Division in the future.
The old Rangers no longer exists and is therefore no longer part of the league
the new Rangers has had to apply to join the SFL the remaining SPL tams voted not to let them resume where the old team left off (quite rightly as its a new team).
However as a "Rangers" match probably generated as much as 30% or more of the years revenue for those teams each year they are "shooting themselves in the foot" just to "have a kick at the big guy while he's down".
As a Rangers fan and a shareholder going on 60 years it is indeed a very sad time. I have no idea what has happened to my shares as I had virtually no communications from anyone. I have been invited to an AGM in the coming weeks but there appears to be little on the agenda.
There is of course much more to this than just kicking the big guy as all the other clubs in the SPL have been arguing for a change in gate match fees but both Rangers and Celtic voted against it and the status quo remained if 2 clubs didn't support it. Now Celtic are on their own the other clubs will be able to vote this through. But of course with the biggest gate no longer there it might very well become a pyrrhic victory.
The only clubs who might do well out of this will be the other 3rd division clubs who will see their match day numbers grow to an amount they could only have envisioned in their dreams and personally I wish them well but hopefully for not more than 1 season.
The lowly Queen's Park football team (who have Hampden Park Stadium as their home ground) will have a bumper attendance when they face Rangers next season at home...I might go...for the novelty...and cheer on QPFC!