Former Liverpool and Sunderland defender Phil Babb has highlighted the similarities between Rangers and Leeds United on Sky Sports.
Scottish club Rangers and English championship outfit Leeds both have struggled with financial problems in recent years and are currently playing in the second tier of their respective football leagues.
“The whole story itself is tragic and is similar to the situation to - but not as harsh as - Leeds,” Babb said on the Sky Sports’ Morning View show on Thursday morning.
“Leeds were spending big money, chasing Champions League, paying big wages, and all of a sudden it came back to bite them on the backside.
“It has kind of happened at Rangers: losing big TV deals, but still trying to attack big players on big wages. Ultimately, the finances have not been there, and they have been stung and been duly reprimanded.
“Rebuilding is a long process. Year on year they have been progressing, and finally they are coming to the end of another turbulent period in their history."
Rangers are one of the two biggest clubs of Scotland, but they are currently playing in the Scottish Championship.
The Gers were relegated to the Scottish Third Division at the end of the 2011-12 season, but since then, they have been steadily rising through the divisions.
Rangers have relinquished their chances of gaining automatic promotion to the Scottish Premiership this season, but they can still go up via the playoffs.
Leeds, though, will remain in the English Championship for the 2015-16 campaign as well, as the Whites stand no chance of making the Championship.
The West Yorkshire outfit have not been in the Premier League since 2004 and even played in League One for a period of time.
Over the years, the Whites have tried to get back to the top flight of English football, but they have consistently failed.