The 12 SPL clubs, including oldco Rangers, will vote on the issue on July 4. Charles Green, the chief executive of newco Rangers, requires eight yes votes to take the club into the SPL.

A statement from Hibs read: "Following a meeting of its board of directors, Hibernian FC confirmed that the club will vote against the transfer of the Rangers share in the SPL to a newco . . . This re-affirms the view of the board that the sporting integrity of the SPL is of paramount importance. The board is also acutely aware that in making this decision, Hibernian – like other clubs in the SPL – will suffer collateral financial damage at a time of severe economic hardship and uncertainty.