Glasgow Rangers' foray into administration appears set for Tuesday.
The club faces a deadline imposed by the Court of Session to appoint an administrator today. Should Rangers fail to meet that deadline, Her Majesty's Revenue and Customs would be allowed to step in and detemine who takes over the club's dealings, something that would undermine the club's control while it goes through and tries to climb out of financial turmoil. According to reports, the club faces as much as £75 million in unpaid taxes.
By meeting that deadline and appointing its administrator, Rangers will immediately incur a 10-point penalty in the league table.
Here are a few more stories to kick off your day:
ALBRIGHT SIGNS WITH UNION
Chris Albright is getting the chance to play at home.
The MLS veteran and Philadelphia native signed a deal Monday with the Philadelphia Union, where he'll take part in his 14th MLS season. Albright was with the New York Red Bulls for the last two years, but injuries limited him to just eight appearances last season.
Albright provides another veteran presence on a young team while adding cover at right back for the Union. The club could wind up losing Sheanon Williams for both Olympic qualifiers and the Olympics given his participation in multiple U-23 camps during the last few months.
VAN BASTEN TAKING OVER AT HEERENVEEN
Dutch legend Marco van Basten will be taking over as coach of SC Heerenveen next season, agreeing to a two-year deal with the Dutch club.
Van Basten, the former Ballon d'Or winner who coached the Dutch national team in the 2006 World Cup, has been out of the coaching game since 2009, when he stepped down from his post at Ajax, the club where he starred as a player early in his career.
He will succeed Ron Jans, who currently has Heerenveen in third place in the Eredivisie, five points behind leaders PSV Eindhoven and AZ Alkmaar.
LJUNGBERG MOVES ON FROM JAPAN
Freddie Ljungberg's post-MLS odyssey has taken him to Scotland and Japan, but now the former Designated Player is looking for a new opportunity.
Ljungberg left Japanese club Shimizu S-Pulse, where he had been since September, by mutual consent. According to reports, his agent said that he had options in Europe during the winter transfer window but that, "He wants to play in a club battling for league titles, but he also wants his final project to give him a chance to give something back to society."
Reports out of South Africa have identified the country's Premier League as a potential destination for Ljungberg.
OLYMPIAKOS TAKES EUROPA KNOCKOUT OPENER
Olympiakos received heroics from an unlikely source in taking the early advantage in its Europa League Round of 32 fixture on Tuesday.
Backup goalkeeper Roy Carroll entered the match after starter Balazs Megyeri was sent off and promptly saved Bebras Natcho's penalty kick to preserve Olympiakos' 1-0 victory over Rubin Kazan on Tuesday.
David Fuster scored in the 71st-minute to put pressure on the Russian side heading into the return leg, as it now needs to overcome not only the deficit but also the away goal tiebreaker.
What do you think is next for Rangers? Think the Albright signing is a good one for the Union? What do you make of van Basten returning to the coaching box? Where in the world should Ljungberg go next?
Share your thoughts below.