A group of Celtic shareholders have failed in their bid to have UEFA investigate the licence granted to Rangers by the SFA in 2011/12 in order to allow the club to compete in Europe.

UEFA have issued a statement to STV explaining that they have now drawn a line under the matter, and would not be looking into claims that the SFA awarded the licence to Rangers incorrectly.

The ‘Resolution 12’ campaign – so named as it was raised as resolution 12 at the 2013 Celtic AGM – alleges that Rangers failed to fully disclose details of an unpaid £2.8million tax bill to the game’s governing body prior to their participation in the Champions League.

Such a breach can result in sanctions being taken against the offending club, with a one-year ban on competing in European competition in any of the three years following the breach a typical punishment in the past.

In their statement yesterday though, UEFA said that Rangers had no case to answer as they were ineligible to compete in European competitions during that three-year period in any case following their financial implosion.

The statement read: "As a consequence of decisions taken against Rangers FC in 2012 as well as the administration of the club and the events and measures that followed (including the club being ineligible to apply for a licence to participate in UEFA competitions for three seasons), there is no need for UEFA to investigate this matter any further since the club was not granted a licence to participate in the 2012/13 UEFA club competitions, the club entered the fourth tier of Scottish football and it was not able to play in UEFA competitions for the next three years in any event."