A glittering annual Rangers dinner has become a casualty of the club's financial troubles.

Joint administrators Paul Clark and David Whitehouse, of Duff and Phelps, said Sunday's Hall of Fame event – to have been attended by past and present Ibrox players – was no longer appropriate in light of the club's financial difficulties.

In a joint statement, they said: "The club has taken the decision to postpone the Hall of Fame dinner and awards ceremony scheduled for this Sunday at the Glasgow Hilton, as holding the event at this time was not considered appropriate. The event will be rescheduled for a later date and all table sales and sponsorship commitments will be honoured at that time.

"Rangers would like to apologise for any inconvenience caused to supporters, sponsors and clients and we will ensure details of the rescheduled event will be communicated as soon as possible. The club would also like to thank the Glasgow Hilton for its understanding.

"If anyone has booked places or a table at the event and has any questions, the events department can be contacted on 0141 580 8613."

Inclusion in the Hall of Fame is the highest honour the club can bestow on a player and former captain David Weir was due to be presented with an award for his induction.

Tickets for the event were priced at £120 plus VAT per person.

It was unclear last night how many people were due to attend.