As expected. Not looking bright for Inverness Caley Thistle who are the latest to produce a statement:
INVERNESS Caledonian Thistle chairman Kenny Cameron says the decision to place the 'Newco' Rangers into the third division next season could "spell the end of football as we know it."
Scottish Football League clubs met at Hampden Park this morning to come to a decision on where Charles Green's newco Ibrox club would play,and 25 of the 30 clubs voted the club into the bottom tier.
Cameron has said the club's directors are set for an emergency meeting this weekend to discuss the financial implications of the decision.
In a statement, Mr Cameron said today was saddening for Scottish clubs, and that no club would escape the consequences.
The statement, in full, reads as follows: "There will now inevitably be serious consequences for the game in Scotland.
"We have all, as clubs, accepted the views of our stakeholders in making the initial judgement to uphold sporting integrity.
"All clubs will now have to live with the repercussions of this decision. Scottish football was at a crossroads today in terms of what was on the table for all clubs regarding reorganisation, financial distribution and a road map that would have taken the game forward.
"But this has now been thrown in to disarray by this decision. This is a sad day for all clubs in Scotland."
Mr Cameron added: "None of us will escape the financial fallout from this. There was an opportunity on the table, in terms of the joint agreement tabled at today’s meeting for us all to come together and a genuine willingness to improve the game substantially over the coming years.
"But it now looks as though this will once again be kicked back in to the long grass. A once in a lifetime opportunity to bring forward change may well have been lost.
"The directors of ICTFC are fully aware of the financial implications of this latest decision on Newco. The loss of either our fans or our sponsors was never going to leave any of the clubs in Scotland in a healthy financial position and for some this could spell the end of football as we know it.
"Certain clubs in the SFL have perceived the financial information they were receiving as a 'big stick' to beat them into accepting Newco in the First Division. This was definitely not the case, as far as I am concerned. What they were being told was the reality of the situation."
The chairman concluded: "We will be convening an emergency board meeting over the weekend to discuss the very serious financial implications for us as a club going forward."
The Glasgow club was forced to apply to the SFL after a meeting of SPL clubs last week voted against the newco joining the top tier.
Rangers went into administration on February 14 owing over £130 million to creditors.
The club will be liquidated, meaning its registration with the Scottish Football Association and SPL ended. A Green-led consortium bought Gers' assests for £5.5 million and created the Rangers newco.
A number of the Glasgow club's first-team players have signed with other clubs, rather than play for the newco in a lower division, but manager Ally McCoist has stayed.
A decision of whether to let Dunfermline, who were relegated from the SPL last season, or Dundee, who finished second to Ross County in the first division, is imminent
As much as the decision to place the newco into the 3rd division is the correct one, I expect many statements in the next coming days similar to the one which has been produced. St Mirren, Dundee, Hibernian, Motherwell, Hearts, Kilmarnock and Aberdeen would be my bet for the most likely to struggle.