Rangers face losing titles won since 1998 because their players have been receiving illegal payments in clandestine playing deals.
Scottish Premier League chief Neil Doncaster has confirmed that the Glasgow giants will be observed closely regarding the titles won and has not ruled out the possibility of stripping the Ibrox club of these trophies due to the fact that payments were made to some of the players outside the law.
"We'll be dealing with the administrators at Rangers to establish whether there were any payments made that were undisclosed at that time.
"If there are then we'll take that forward. Our role here is to apply the SPL rule book.""We are monitoring that situation very closely. We will be looking into it and taking whatever action is necessary," Doncaster said.
The news first came to hand when former Rangers director Hugh Adam suggested that players had benefited from illegal payments made to hidden contracts.